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Skyways Air Services IPOLISTED

NSE, BSEMainboardBook Built Issue

Skyways Air Services is a multi-modal logistics and air freight forwarding company offering air, ocean, road, warehousing and customs solutions.

Compare

Listing price

₹124

Listing gain

-10.14%

Current

₹124

Listed

01 Sept 26

Opens

24 Aug 26

Closes

27 Aug 26

Allotment

28 Aug 26

Refund

31 Aug 26

Demat

31 Aug 26

Listing

01 Sept 26

Listed at

₹124

-10.14% on 01 Sept 26

Min. investment₹13,800
GMP₹39 · +28.3%
Subscribed71.25x
Track in the app

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

Anchor Investor 29.95%QIB 19.97%B-HNI 10.03%S-HNI 5.01%Individual 35.04%
CategoryShares offered% of issue
Anchor Investor1,26,48,00029.95%
QIB84,32,00019.97%
NII (HNI)63,51,60015.04%
B-HNI42,34,40010.03%
S-HNI21,17,2005.01%
Individual1,48,00,00035.04%
Total4,22,31,600100%

Lot size & investment

ApplicationLotsSharesAmount
Retail (Min)1100₹13,800
Retail (Max)141,400₹1,93,200
S-HNI (Min)151,500₹2,07,000
S-HNI (Max)727,200₹9,93,600
B-HNI (Min)737,300₹10,07,400

Listing performance

NSE/BSE: SKYWAYS

Listing gain

−10.14%

Gain per retail lot

₹-1,400

Latest vs issue

—

GMP was

₹39 (+28.26%)

₹138
₹177+28.26%
₹124−10.14%

Issue price

GMP estimate

Listing price

Latest price appears here during market hours.

Skyways Air Services Live GMP

GMP₹39
Est. Price₹177
Est. Gain28.26%
25303540455022 Aug · ₹4525 Aug · ₹3226 Aug · ₹29.526 Aug · ₹3526 Aug · ₹3927 Aug · ₹4027 Aug · ₹3927 Aug · ₹4727 Aug · ₹4631 Aug · ₹3922 Aug26 Aug26 Aug27 Aug27 Aug31 Aug

Latest GMP

₹39

All-time high

₹47

All-time low

₹29.5

GMP × retail lot ₹3,900GMP × S-HNI min ₹58,500Expected listing ~ ₹177GMP is unofficial and changes often. Data as of 28 Aug, 12:00 am.

Subscription

28 Aug, 12:00 am

Oversubscribed 71.25 times · 34,34,228 applications

QIB
139.69x
NII (HNI)
87.24x
S-HNI
79.04x
B-HNI
91.33x
Retail
25.40x
Total
71.25x

Total applications

34,34,228

Total bid amount

₹29,089 Cr

Category breakdown

CategoryShares offeredShares bidTimesBid amount
QIB84,32,0001,17,78,54,000139.69x₹16,254 Cr
NII (HNI)63,51,60055,40,86,20087.24x₹7,646 Cr
B-HNI42,34,40038,67,45,50091.33x₹5,337 Cr
S-HNI21,17,20016,73,40,70079.04x₹2,309 Cr
Retail1,48,00,00037,59,70,50025.40x₹5,188 Cr
Total2,95,83,6002,10,79,10,70071.25x₹29,089 Cr

Application-wise breakup

CategoryApplications reservedAppliedTimes
B-HNI2,82352,30818.53x
S-HNI1,4111,07,82976.42x
Retail1,48,00032,54,87621.99x

Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).

Financials

(₹ in crores)

01,0002,0003,000Mar 2023 · Revenue: 1,496.11Mar 2023 · Expense: 1,443.21Mar 2023 · Profit after tax: 37.9Mar 2023 · Assets: 448.29Mar 2023 · Borrowing: 175.02Mar 2023Mar 2024 · Revenue: 1,316.81Mar 2024 · Expense: 1,268.43Mar 2024 · Profit after tax: 34.49Mar 2024 · Assets: 790.35Mar 2024 · Borrowing: 357.34Mar 2024Mar 2025 · Revenue: 2,270.99Mar 2025 · Expense: 2,204.16Mar 2025 · Profit after tax: 48.14Mar 2025 · Assets: 1,321.64Mar 2025 · Borrowing: 558.43Mar 2025Mar 2026 · Revenue: 2,839.67Mar 2026 · Expense: 2,751.1Mar 2026 · Profit after tax: 63.52Mar 2026 · Assets: 1,508.24Mar 2026 · Borrowing: 624.06Mar 2026

Key performance indicators

As of 31 Mar 2026

ROE

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

Delhivery Ltd
293.00×
TVS Supply Chain Solutions Ltd
79.40×
Mahindra Logistics Limited
102.00×
CompanyP/EP/BRoNWFace value
Delhivery Ltd293———
TVS Supply Chain Solutions Ltd79.4———
Mahindra Logistics Limited102———

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.
6.5/10

Buzz score · Neutral

From GMP, subscription and issue size

Financials6.6
Growth6.6
Business5.9
Demand8.7
Risk7.2

Objects of the issue

PurposeAmount (₹ 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

Bigshare Services Pvt.Ltd.

Phone: 8657578989/8069219065/8069219060

Email: ipo@bigshareonline.com

Web: https://ipo.bigshareonline.com/IPO_Status.html

Company contact

Skyways Air Services Ltd.

RZ 128-129A, Mahipalpur Extension NH-8, Delhi, New Delhi, 110037

Phone: 9910791501

Email: cs@skyways-group.com

Web: https://www.skyways-air.in/

Book running lead managers

  • Holani Consultants Pvt.Ltd.
  • Shannon Advisors Pvt.Ltd.
  • Dolat Finserv Pvt.Ltd.

Promoters

79.1%Pre Issue
56.8%Post Issue
  • Yashpal Sharma
  • Tarun Sharma