Skyways Air Services IPO
Bookbuilding IPO | ₹583.00 Cr | Listing at BSE, NSE
IPO Open
Mon, Aug 24, 2026
IPO Close
Thu, Aug 27, 2026
Price Band
₹131.00 to ₹138.00
Market Cap (Pre-IPO)
₹2,005.74 Cr
IPO Details
| IPO Date | Aug 24, 2026 to Aug 27, 2026 |
| Listing Date | Tentative: Sep 01, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹131.00 to ₹138.00 |
| Lot Size | 100 Shares (Minimum: ₹13,800.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹583.00 Crores |
| Total Shares Offered | 42,231,600 shares |
| Fresh Issue | 28,898,300 shares |
| Offer For Sale | 13,333,300 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 139.69x |
| NII | 87.24x |
| RII | 25.40x |
| Total | 71.25x |
Skyways Air Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 49.92 |
| Retail Shares Offered | 35.04 |
| NII Shares Offered | 15.04 |
Skyways Air Services IPO Lot Size
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹13,800 |
| Retail (Max) | 14 | 1,400 | ₹193,200 |
| S-HNI (Min) | 15 | 1,500 | ₹207,000 |
| S-HNI (Max) | 72 | 7,200 | ₹993,600 |
| B-HNI (Min) | 73 | 7,300 | ₹1,007,400 |
Skyways Air Services Financial Information (Restated Consolidated)
Skyways Air Services Ltd.'s revenue increased by 25% and profit after tax (PAT) rose by 32% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,508.24 | 1,321.64 | 790.35 |
| Total Income | 2,839.67 | 2,270.99 | 1,316.81 |
| Profit After Tax | 63.52 | 48.14 | 34.49 |
| EBITDA | 125.65 | 86.49 | 48.34 |
| NET Worth | 332.64 | 247.14 | 154.26 |
| Reserves and Surplus | - | - | - |
| Total Borrowing | 624.06 | 558.43 | 357.34 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 19.52% |
| ROCE (Return on Capital Employed) | 14.61% |
| Debt/Equity | 1.42 |
| RoNW (Return on Net Worth) | 15.85% |
| PAT Margin (Profit After Tax Margin) | 2.14% |
| EBITDA Margin | 3.85% |
| Price to Book Value | 5.90 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.46 | 4.37 |
| P/E (x) | 25.27 | 31.58 |
Company Overview
Skyways Air Services Ltd. – Company Overview
- Skyways Air Services Ltd. is a logistics and freight forwarding company with over four decades of experience in India's air freight and logistics sector.
- The company provides end-to-end logistics and supply chain solutions across domestic and international markets.
- The company has evolved from a Custom House Agent into a multi-modal logistics service provider, supported by strategic alliances with leading airlines such as Saudi Cargo, Air India Cargo, Emirates, and Lufthansa.
- SASL has been ranked the No. 1 Air Freight Forwarder by AWBs generated by World ACD for four consecutive years from 2022 to 2025.
- Its proprietary technology platforms, including SLS HIKE, SLS 100X, SLS 100X 2.0, Cargo Dash, Skart-Edge, and ASAP, support freight booking, shipment tracking, workflow automation, documentation, and operational reporting.
- As of June 30, 2026, the company had 320 employees, while its combined workforce across the company and subsidiaries stood at 1,193 employees as of March 31, 2026.
Company Strengths
- Over four decades of experience in the freight forwarding and logistics industry.
- No. 1 Air Freight Forwarder by AWBs generated for four consecutive years, as per World ACD.
- Comprehensive range of air, ocean, road, warehousing and customs logistics solutions.
- Strong international network through airline partnerships and global logistics affiliations.
- Technology-enabled logistics operations supporting booking, tracking and workflow automation.
- Long-standing relationships with a diverse customer base.
- Experienced promoters and management team with strong industry expertise.
- Integrated logistics infrastructure providing end-to-end supply chain solutions.
Use of Proceeds
| 1) | Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and Subsidiary Forin Container Line Pvt.Ltd.. | 216.79 |
| 2) | Funding incremental working capital requirements of the Company. | 130.00 |
| 3) | General Corporate Purposes | |
| Total | 346.79 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Skyways Air Services IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Skyways Air Services Ltd. | 3.56 | 3.56 | 28.91 | - | 12.33 | - | Consolidated |
| Delhivery Ltd | 2.04 | 2.00 | 129.40 | 260.00 | 1.58 | - | Consolidated |
| Tvs Supply Chain Solutions Ltd | 2.59 | 2.59 | 46.09 | 54.00 | 5.62 | - | Consolidated |
| Mahindra Logistics Ltd | 0.25 | 0.25 | 130.57 | 1,548.00 | 0.19 | - | Consolidated |
| Shadowfax Technologies Ltd | 2.22 | 2.18 | 34.04 | 104.00 | 6.40 | - | Consolidated |
Quick Info
| Sector | logistics and freight forwarding sector |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹2,005.74 Cr |
Important Dates
| IPO Open | Aug 24, 2026 |
| IPO Close | Aug 27, 2026 |
| Allotment Date | Aug 28, 2026 |
| Credit to Demat | Aug 31, 2026 |
| Listing Date | Tentative: Sep 01, 2026 |
Lead Manager(s)
Holani Consultants Pvt.Ltd.
Registrar
Bigshare Services Pvt.Ltd.
8657578989/8069219065/8069219060
Description
- IPO Type: Book build issue aggregating to ₹582.80 crores.
- Issue Structure: A combination of fresh issue of 2.89 crore shares aggregating to ₹398.80 crores and offer for sale of 1.33 crore shares aggregating to ₹184.00 crores.
- IPO Dates: The issue opened on August 24, 2026 and closed on August 27, 2026.
- Allotment Date: The allotment is expected to be finalized on August 28, 2026.
- Listing Details: The shares are proposed to be listed on both NSE and BSE on September 1, 2026.
- Retail Investment Requirement: Minimum 1 lot (100 shares) amounting to approximately ₹13,800.
- Issue Price: ₹138 per equity share.
- Lot Size: 100 shares per lot.
This IPO offers investors an opportunity to participate in the aviation and air transportation sector through a combination of a fresh issue of shares and an offer for sale by existing shareholders.