Skyways Air Services Ltd. is launching a book-building IPO comprising a total issue of 4,22,31,600 equity shares. The issue consists of a fresh issue of 2,88,98,300 shares and an offer for sale of 1,33,33,300 shares. The IPO opens for subscription on Wednesday, March 18, 2026 and closes on Friday, March 20, 2026. The allotment is expected to be finalised on Monday, March 23, 2026, and the shares are proposed to be listed on BSE and NSE with a tentative listing date of Wednesday, March 25, 2026.
Listing- Yet to be listed
Skyways Air Services IPO
IPO Size: To be declared
Business: Air freight forwarding and logistics solutions
Network: Multi-modal logistics provider with global alliances
Key Risk: Logistics sector competition and margin pressures
Chanakya View: Strong network and logistics presence; valuation comfort key
🕗 Last Update: 4 March 2026, 6.00 AM
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IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Opening Date | Wednesday, 18 Mar 2026 |
| IPO Closing Date | Friday, 20 Mar 2026 |
| Listing Date (Tentative) | Wednesday, 25 Mar 2026 |
| Face Value | Rs. 10 per share |
| Price Band | To be declared |
| Lot Size | To be declared |
| Issue Type | Book Building IPO |
| Sale Type | Fresh Issue cum Offer for Sale |
| Total Issue Size | 4,22,31,600 Equity Shares |
| Total Issue Amount | Rs. To be declared |
| Fresh Issue | 2,88,98,300 Equity Shares |
| Offer for Sale | 1,33,33,300 Equity Shares |
| Listing At | BSE, NSE |
| Employee Discount | NA |
| Share Holding Pre Issue | 11,24,25,918 shares |
| Share Holding Post Issue | 14,13,24,218 shares |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Wed, Mar 18, 2026 |
| IPO Closes | Fri, Mar 20, 2026 |
| Allotment | Mon, Mar 23, 2026 |
| Refunds | Tue, Mar 24, 2026 |
| Credit of Shares | Tue, Mar 24, 2026 |
| Listing | Wed, Mar 25, 2026 |
Investor Reservation
| Category | Shares Offered |
|---|---|
| QIB | Not more than 50.00% of Net Offer |
| NII | Not less than 15.00% of Net Offer |
| Retail | Not less than 35.00% of Net Offer |
IPO Lot Size & Investment Amount
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min) | To be declared | To be declared | To be declared |
| Retail (Max) | To be declared | To be declared | To be declared |
| S-HNI (Min) | To be declared | To be declared | To be declared |
| S-HNI (Max) | To be declared | To be declared | To be declared |
| B-HNI (Min) | To be declared | To be declared | To be declared |
What Does Skyways Air Services Ltd. Do?
Skyways Air Services Limited, incorporated in 1984, is a leading air freight forwarding and logistics company in India providing integrated logistics solutions across air, ocean, road and express delivery networks. The company offers a wide range of services including air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking and technology-enabled cargo management.
The company also provides value-added services such as logistics planning, cargo handling, warehousing and inventory management, documentation, customs clearance and end-to-end distribution solutions. Skyways operates an IT-enabled platform supporting its logistics network and maintains global partnerships through alliances with international logistics organisations including World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Combined Logistics Networks (CLN), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA) and Transport Worldwide International Group (TWIG).
The company has performance-based agreements with leading international airlines such as Saudi Cargo, Air India Cargo, Turkish Airlines and Lufthansa, enabling strong global connectivity and logistics coverage across major trade routes. It has also developed cold storage facilities near Indira Gandhi International Airport to handle pharmaceuticals and temperature-sensitive cargo.
Skyways Air Services Limited has evolved into a multi-modal logistics provider offering integrated supply chain solutions combining air, ocean and road transport. As of December 31, 2024 and March 31, 2024, 2023 and 2022, the company and its subsidiaries had employee strength of 1,035, 950, 840 and 712 respectively.
Competitive Strengths
Global logistics network and airline partnerships
Integrated multimodal logistics platform
Technology-driven cargo and supply chain solutions
Strong experience in freight forwarding and distribution
Cold chain infrastructure near major airports
Financials (Rs. crore – Restated Consolidated)
| Particulars | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Dec 2022 |
|---|---|---|---|---|
| Assets | 854.94 | 790.35 | 448.29 | 464.72 |
| Total Income | 1,655.79 | 1,316.81 | 1,496.11 | 1,664.32 |
| EBITDA | 638.48 | 483.44 | 587.07 | 685.81 |
| PAT | 36.84 | 34.49 | 37.90 | 46.04 |
| Net Worth | 172.90 | 154.26 | 125.19 | 98.24 |
| Total Borrowings | 422.22 | 357.34 | 175.02 | 163.40 |
Key Performance Indicators (KPI)
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 22.37% |
| ROCE | 15.57% |
| RoNW | 20.26% |
| PAT Margin | 2.68% |
| EBITDA Margin | 3.75% |
Valuation Snapshot
| Particulars | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs.) | To be declared | To be declared |
| P/E (x) | To be declared | To be declared |
| Particulars | Details |
|---|---|
| Market Cap (Pre-IPO) | To be declared |
Company Address
Skyways Air Services Ltd.
RZ 128-129A
Mahipalpur Extension
NH-8
Delhi, New Delhi – 110037
IPO Lead Manager(s)
Holani Consultants Pvt. Ltd.
Shannon Advisors Pvt. Ltd.
Dolat Finserv Pvt. Ltd.
IPO Registrar
| Registrar | Contact |
|---|---|
| Bigshare Services Pvt. Ltd. | +91-22-6263 8200 |
| ipo@bigshareonline.com |
Skyways Air Services IPO – Review
Skyways Air Services operates in the logistics and freight forwarding industry, a sector benefiting from increasing global trade flows, supply chain diversification and growing demand for integrated logistics services. The company’s diversified service portfolio spanning air freight, ocean freight, warehousing, customs clearance and express cargo solutions provides strong positioning in the logistics value chain.
The company’s long-standing relationships with international airlines and membership in global logistics networks enhance its operational reach and service capabilities across multiple geographies. Its multimodal logistics infrastructure and technology-enabled platforms also support efficient cargo handling and distribution services.
Financial performance reflects stable revenue generation with moderate profitability levels typical of the logistics industry. However, the sector remains highly competitive with margin pressures, dependence on global trade cycles and fuel cost volatility.
Chanakya View
Neutral to Positive. Skyways Air Services operates in a growing logistics sector with strong global network partnerships and integrated services. However, investors should watch valuation comfort and industry competition. APPLY with medium- to long-term perspective.
About Chanakya IPO Analysis
Chanakya provides independent IPO analysis combining fundamentals, grey market intelligence and technical insights for retail and long-term investors.
Disclaimer
This IPO coverage is for informational purposes only. Investors are advised to read the RHP/DRHP carefully and consult a SEBI-registered investment advisor before investing.
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