Skyways Air Services sets ₹131-138 price band for ₹5.8bn IPO

Skyways Air Services will open its ₹5.8 billion (₹582.80 crore) IPO for subscription on August 24, 2026, with the issue closing on August 27. The air freight forwarding and logistics company has fixed the price band at ₹131-138 per equity share, with a face value of ₹10 each, stated the Delhi-headquartered logistics company in a press conference on the forthcoming IPO. It also mentioned that investors can bid for a minimum of 100 equity shares and in multiples of 100 thereafter. The IPO comprises a fresh issue of up to 2,88,98,300 equity shares and an offer for sale of up to 1,33,33,300 equity shares by existing shareholders.

Promoter Yashpal Sharma (Chairman and Managing Director of Skyways Air Services) will offer up to 71,20,690 shares, while Tarun Sharma (Director, Skyways Air Services) will offer up to 24,60,000 shares. Other selling shareholders include Himanshu Chhabra (CFO, Skyways Air Services), who will offer up to 18,66,000 shares. The company currently has 11,64,45,244 equity shares outstanding. The equity shares are proposed to be listed on the NSE and BSE.

Skyways plans to use ₹2.6 billion from the fresh issue to repay or pre-pay, in full or in part, certain outstanding borrowings availed by the company and its subsidiary, Forin Container Line Private Limited. A further ₹1.3 billion will be used to fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes. Holani Consultants, Shannon Advisors and Dolat Finserv are the book-running lead managers, while Bigshare Services is the registrar to the offer.

40 years in air freight and logistics
Founded on December 21, 1984, Skyways has more than four decades of experience in India's air freight forwarding and logistics sector. The company provides air and ocean freight forwarding, trucking, warehousing, customs broking, technology-driven express cargo and parcel delivery, along with other value-added logistics services.

Skyways reported a turnover of ₹28 billion in FY2026, compared with ₹12 billion in FY2024. It has relationships with more than 50 airlines, serves over 9,500 clients and operates across 30-plus locations in India. The company has a presence across India, Bangladesh, Cambodia, Canada, the UK, Germany, Hong Kong, Saudi Arabia, Thailand, the UAE, the US and Vietnam. Skyways has performance-based agreements with several global airlines, including Saudia Cargo, Air India Cargo, Emirates, Lufthansa and Qatar Airways. The company had previously reported handling 44,003 tonnes of air cargo in the first nine months of FY2025, while serving 7,612 customers during the period.

Listing plans
Skyways said the proposed IPO is subject to requisite approvals, market conditions and other considerations. The company filed its red herring prospectus dated August 11, 2026, with the Registrar of Companies, followed by a corrigendum dated August 12. The company said the equity shares offered in the IPO have not been, and will not be, registered under the US Securities Act of 1933 and will not be offered or sold in the US except pursuant to applicable exemptions or in transactions not subject to the registration requirements.

The IPO is scheduled to open on August 24, marking a new phase for the more than 40-year-old air freight and logistics company as it seeks to raise capital for debt repayment, working capital and general corporate purposes.