Skyways Air Services IPO
SEBI has approved the Initial Public Offer (IPO) of Skyways Air Services Ltd. on October 31, 2025.
The company will proceed with the next steps to launch the IPO, subject to market conditions and remaining regulatory approvals.
The approval is valid for 12 months.
The Skyways Air Services Ltd. IPO is a Book-Build Issue of 4.63 crore equity shares, consisting of a fresh issue of up to 3.29 crore equity shares and an Offer for Sale (OFS) of up to 1.33 crore equity shares.
The shares are proposed to be listed on BSE and NSE.
Bigshare Services Pvt. Ltd. is the Registrar to the issue.
The Book Running Lead Managers are Holani Consultants Pvt. Ltd., Shannon Advisors Pvt. Ltd., and Dolat Finserv Pvt. Ltd.
🕗 Last Update: 5 November 2025, 6.00 AM
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IPO Key Dates
| Event | Date |
|---|---|
| IPO Opens on | — |
| IPO Closes on | — |
| Allotment on | — |
| Refunds | — |
| Credit of Shares | — |
| Listing Date | — |
IPO Key Details
| Particulars | Details |
|---|---|
| Issue Size | 4,62,51,000 shares (aggregating up to Rs. [ ] crore) |
| Face Value | Rs. 10 per share |
| Issue Price Band | Rs. [ ] – Rs. [ ] per share |
| Lot Size | — |
| Sale Type | Fresh Issue + Offer for Sale |
| Fresh Issue | 3,29,17,700 shares (aggregating up to Rs. [ ] crore) |
| Offer for Sale | 1,33,33,300 shares (aggregating up to Rs. [ ] crore) |
| Issue Type | Book-Build IPO |
| Listing | BSE, NSE |
| Pre-Issue Shareholding | 11,24,25,918 shares |
| Post-Issue Shareholding | 14,53,43,618 shares |
DRHP Status
| Description | Date |
|---|---|
| Filed with SEBI | July 2, 2025 |
| SEBI Approval Received | October 31, 2025 |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 81.97% |
| Promoter Holding Post-Issue | — |
Promoters: Mr. Yashpal Sharma and Mr. Tarun Sharma
About Skyways Air Services Ltd.
Incorporated in 1984, Skyways Air Services Ltd. (SASL) is one of India’s leading air freight forwarding and logistics service providers, offering integrated multi-modal logistics solutions including air, ocean, and road transport.
The company provides a complete range of services — air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, express parcel delivery, and supply-chain planning.
It has a strong IT-enabled logistics platform and a global network with affiliations to World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Combined Logistics Networks (CLN), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA), and TWIG.
Skyways has performance-based agreements with Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa, ensuring excellent service coverage and capacity across trade routes.
The company also operates cold storage facilities near Indira Gandhi International Airport for temperature-sensitive cargo and offers technology-driven logistics and inventory management.
As of December 31, 2024, the group employed 1,035 people, compared to 950 in FY24 and 840 in FY23.
Financial Snapshot (Rs. in crore)
| Period Ended | 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 |
| Profit After Tax | 36.84 | 34.49 | 37.90 | 46.04 |
| EBITDA | 638.48 | 483.44 | 587.07 | 685.81 |
| Net Worth | 172.90 | 154.26 | 125.19 | 98.24 |
| Total Borrowing | 422.22 | 357.34 | 175.02 | 163.40 |
Key Performance Indicators
| KPI | Value |
|---|---|
| ROE | 22.37% |
| ROCE | 15.57% |
| RoNW | 20.26% |
| PAT Margin | 2.68% |
| EBITDA Margin | 3.75% |
Objects of the Issue
| S. No. | Purpose | Amount (Rs. in crore) |
|---|---|---|
| 1 | Repayment / prepayment of certain borrowings (including subsidiary Forin Container Line Pvt. Ltd.) | 216.79 |
| 2 | Funding incremental working capital requirements | 130.00 |
| 3 | General corporate purposes | — |
Chanakya View
Skyways Air Services Ltd. has a four-decade legacy in freight forwarding and logistics with an expanding multimodal, technology-driven platform. Its diversified services — from air and ocean cargo to express delivery and warehousing — position it well in India’s fast-growing logistics ecosystem.
Financially, the company maintains steady revenue above Rs. 1,300–1,600 crore, healthy ROE of 22%, and consistent profitability despite global freight volatility. Debt levels are moderate and proceeds from IPO will further reduce leverage and improve liquidity.
However, low EBITDA margins (~3.7%) and dependency on global freight rates remain key challenges.
Chanakya Verdict:
A well-established logistics company with solid credentials and steady financials. Attractive for long-term investors post pricing clarity; valuation will be key before applying.
Registered Office
Skyways Air Services Ltd.
RZ 128-129A, Mahipalpur Extension, NH-8,
Delhi – 110037
📞 9910791501
✉ cs@skyways-group.com
🌐 www.skyways-air.in
Registrar to the IPO
Bigshare Services Pvt. Ltd.
📞 +91-22-6263 8200
✉ ipo@bigshareonline.com
🌐 ipo.bigshareonline.com/IPO_Status.html
Lead Managers
Holani Consultants Pvt. Ltd. | Shannon Advisors Pvt. Ltd. | Dolat Finserv Pvt. Ltd.
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Disclaimer
This coverage is purely for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums (GMP) nor recommend investing based solely on grey market trends. Please consult your SEBI-registered financial advisor before making investment decisions.
