Delhi-based air freight forwarding and logistics company Skyways Air Services Ltd. is set to launch its initial public offering (IPO) on August 24, 2026. The company has fixed the price band for the issue at Rs 131-Rs 138 per equity share.
The IPO will open for subscription on August 24 and close on August 27. The anchor investor portion will be available for bidding starting August 21.
Issue Details and Structure
The Skyways Air Services IPO comprises a fresh issue of 2.88 crore equity shares and an offer-for-sale (OFS) of up to 1.33 crore shares by existing shareholders, including promoters Yashpal Sharma and Tarun Sharma. Investors can bid for a minimum of 100 shares, with subsequent bids in multiples thereof.
At the upper end of the price band, the company's post-listing market capitalization is projected to be approximately Rs 2,005.74 crore. Notably, the fresh issue size was reduced from the originally proposed 3.29 crore equity shares following a pre-IPO placement.
Pre-IPO Placement and Fund Utilisation
Prior to the IPO, Skyways Air Services successfully raised Rs 48.23 crore through a pre-IPO placement of 40.19 lakh equity shares at a price of Rs 120 apiece. The company stated that these funds are currently held in fixed deposit receipts and will be used for general corporate purposes.
From the net proceeds of the fresh issue, Rs 216.78 crore is earmarked for the repayment of debt for both the company and its subsidiary, Forin Container Line. As of June 30, 2026, Skyways Air Services had standalone borrowings of Rs 504.65 crore, while its subsidiary had Rs 81.58 crore in outstanding borrowings. An additional Rs 130 crore will be allocated to meet incremental working capital requirements, with the remaining proceeds dedicated to general corporate purposes. Proceeds from the offer-for-sale will go directly to the selling shareholders.
Financial Performance
For the fiscal year ended March 2026, Skyways Air Services reported a net profit of Rs 63.5 crore, marking a 32 percent increase from Rs 48.1 crore in the previous year. Revenue also saw significant growth, rising 25.1 percent to Rs 2,812.9 crore from Rs 2,247.8 crore in the same period.
Key Dates and Merchant Bankers
The company expects to finalize the share allotment by August 28, 2026, with its anticipated stock market debut scheduled for September 1, 2026. Holani Consultants, Shannon Advisors, and Dolat Finserv have been appointed as the merchant bankers for the IPO.