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Skyways Air Services IPOLISTED
Skyways Air Services is a multi-modal logistics and air freight forwarding company offering air, ocean, road, warehousing and customs solutions.
Listing price
₹124
Listing gain
-10.14%
Current
₹124
Listed
01 Sept 26
Opens
24 Aug 26Closes
27 Aug 26Allotment
28 Aug 26Refund
31 Aug 26Demat
31 Aug 26Listing
01 Sept 26Listed at
₹124
-10.14% on 01 Sept 26
Overview
Price band
₹131-138
Lot size
100 shares
Min. investment
₹13,800
Issue size
₹582.80 Cr
4.22 Cr shares
Fresh issue
₹398.8 Cr
2.89 Cr shares
Offer for sale
₹184 Cr
1.33 Cr shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 1,26,48,000 | 29.95% |
| QIB | 84,32,000 | 19.97% |
| NII (HNI) | 63,51,600 | 15.04% |
| B-HNI | 42,34,400 | 10.03% |
| S-HNI | 21,17,200 | 5.01% |
| Individual | 1,48,00,000 | 35.04% |
| Total | 4,22,31,600 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹13,800 |
| Retail (Max) | 14 | 1,400 | ₹1,93,200 |
| S-HNI (Min) | 15 | 1,500 | ₹2,07,000 |
| S-HNI (Max) | 72 | 7,200 | ₹9,93,600 |
| B-HNI (Min) | 73 | 7,300 | ₹10,07,400 |
Listing performance
NSE/BSE: SKYWAYSListing gain
−10.14%
Gain per retail lot
₹-1,400
Latest vs issue
—
GMP was
₹39 (+28.26%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Skyways Air Services Live GMP
Latest GMP
₹39
All-time high
₹47
All-time low
₹29.5
Subscription
28 Aug, 12:00 amOversubscribed 71.25 times · 34,34,228 applications
Total applications
34,34,228
Total bid amount
₹29,089 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 84,32,000 | 1,17,78,54,000 | 139.69x | ₹16,254 Cr |
| NII (HNI) | 63,51,600 | 55,40,86,200 | 87.24x | ₹7,646 Cr |
| B-HNI | 42,34,400 | 38,67,45,500 | 91.33x | ₹5,337 Cr |
| S-HNI | 21,17,200 | 16,73,40,700 | 79.04x | ₹2,309 Cr |
| Retail | 1,48,00,000 | 37,59,70,500 | 25.40x | ₹5,188 Cr |
| Total | 2,95,83,600 | 2,10,79,10,700 | 71.25x | ₹29,089 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 2,823 | 52,308 | 18.53x |
| S-HNI | 1,411 | 1,07,829 | 76.42x |
| Retail | 1,48,000 | 32,54,876 | 21.99x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
14.15%
PAT Margin
2.26%
ROCE
18.11%
EBITDA Margin
4.47%
RoNW
12.33%
Valuation vs listed peers
EPS Pre IPO
₹5.46
EPS Post IPO
₹4.37
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Delhivery Ltd | 293 | — | — | — |
| TVS Supply Chain Solutions Ltd | 79.4 | — | — | — |
| Mahindra Logistics Limited | 102 | — | — | — |
Peer median P/E 102.0× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY23 → FY26
+89.8%
Profit growth FY23 → FY26
+67.6%
ROCE
18.11%
- PAT margin 2.3% and ROCE 18.1%.
Strengths & risks
- Integrated logistics services across air, ocean, road, warehousing, and customs.
- Strong global network through international logistics alliances.
- Partnerships with major airlines ensure strong cargo connectivity.
- A technology-driven logistics platform improving efficiency and tracking.
- Cold storage facility for pharma and temperature-sensitive cargo.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and its Subsidiary, “Forin Container Line Private Limited”. | 216.79 |
| Funding incremental working capital requirements of the Company. | 130 |
| General corporate purposes. | - |
Company & documents
Skyways Air Services Limited (SASL) is a leading air freight forwarding and integrated logistics company in India, providing end-to-end supply chain solutions across multiple transportation modes.
The company offers a wide range of logistics services, including air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, and technology-driven express cargo and parcel delivery services.
In addition to core logistics operations, Skyways provides several value-added services such as logistics planning and management, cargo handling, warehousing and inventory management, documentation, customs clearance, and end-to-end distribution solutions to support customers’ supply chain requirements.
The company operates on a robust IT-enabled logistics platform and has developed a strong global network through partnerships with international logistics alliances, 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).
Skyways also maintains performance-based agreements with major international airlines, including Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa, which help the company provide reliable connectivity and efficient cargo movement across global markets.
Over the years, the company has evolved into a multi-modal logistics provider, integrating air, ocean, road transportation, and express delivery services. It also operates cold storage facilities near Indira Gandhi International Airport, enabling the handling of pharmaceuticals and other temperature-sensitive cargo.
As of September 30, 2025, Skyways Air Services Limited and its subsidiaries had a workforce of 1,164 employees, reflecting steady growth from 1,163 employees in FY2025, 950 in FY2024, and 840 in FY2023.
Registrar
Company contact
Skyways Air Services Ltd.
RZ 128-129A, Mahipalpur Extension NH-8, Delhi, New Delhi, 110037
Phone: 9910791501
Email: cs@skyways-group.com
Book running lead managers
- Holani Consultants Pvt.Ltd.
- Shannon Advisors Pvt.Ltd.
- Dolat Finserv Pvt.Ltd.
Promoters
- Yashpal Sharma
- Tarun Sharma
