Air freight forwarding and logistics company Skyways Air Services will open its ₹582.80 crore initial public offering (IPO) for subscription on August 24, 2026. The issue will close on August 27, with the company fixing the price band at ₹131–₹138 per equity share of face value ₹10.
Investors can bid for a minimum of 100 equity shares, and thereafter in multiples of 100 shares. The equity shares are proposed to be listed on both the NSE and BSE.
The IPO comprises a fresh issue of up to 2,88,98,300 equity shares and an offer for sale (OFS) of up to 1,33,33,300 equity shares by existing shareholders.
Among the selling shareholders, promoter and Chairman & Managing Director Yashpal Sharma will offer up to 71,20,690 shares, while Director Tarun Sharma will offer up to 24,60,000 shares. CFO Himanshu Chhabra will offer up to 18,66,000 shares.
Skyways currently has 11,64,45,244 equity shares outstanding.
Debt repayment and working capital
The company plans to deploy ₹260 crore from the fresh issue towards repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by Skyways Air Services and its subsidiary Forin Container Line Private Limited.
A further ₹130 crore will be utilised to meet incremental working capital requirements, while the balance will be used for general corporate purposes.
Holani Consultants, Shannon Advisors and Dolat Finserv are the book-running lead managers to the issue, while Bigshare Services is the registrar.
Four decades in air freight and logistics
Founded on December 21, 1984, Skyways Air Services has more than four decades of experience in India’s air freight forwarding and logistics industry.
The company offers a broad portfolio of services, including air and ocean freight forwarding, trucking, warehousing, customs broking, technology-driven express cargo and parcel delivery, as well as other value-added logistics services.
Skyways reported a turnover of approximately ₹2,800 crore in FY2026, up significantly from around ₹1,200 crore in FY2024.
The company has relationships with more than 50 airlines, serves over 9,500 customers and operates across more than 30 locations in India. Its international presence extends to Bangladesh, Cambodia, Canada, the UK, Germany, Hong Kong, Saudi Arabia, Thailand, the UAE, the US and Vietnam.
Skyways has performance-based agreements with several leading global airlines, including Saudia Cargo, Air India Cargo, Emirates, Lufthansa and Qatar Airways.
The company had earlier reported handling 44,003 tonnes of air cargo during the first nine months of FY2025, while serving 7,612 customers during the period.
IPO marks new phase for logistics company
The proposed listing is expected to provide Skyways with additional capital to strengthen its balance sheet, support working capital requirements and fund its future growth initiatives.
The company has filed its Red Herring Prospectus dated August 11, 2026, with the Registrar of Companies, followed by a corrigendum dated August 12, 2026.
Skyways said the IPO remains subject to requisite regulatory approvals, market conditions and other considerations. The equity shares offered in the issue have not been and will not be registered under the US Securities Act of 1933 and will not be offered or sold in the United States except under applicable exemptions or in transactions not subject to the registration requirements.
With the IPO scheduled to open on August 24, Skyways Air Services is set to enter the public markets as it seeks to build on its more than 40-year presence in India’s air freight and logistics sector.
