Skyways Air Services IPO: Size, Date, Price, Everything You Need to Know
Skyways Air Services Ltd, a leading Delhi-based air freight forwarding and logistics provider, is set to launch its IPO following SEBI approval on 31 October 2025. Established in 2007 by promoters Yashpal Sharma and Tarun Sharma, the company specialises in air cargo handling, multimodal logistics, customs clearance, and supply chain solutions for e-commerce, pharmaceuticals, and exports across 100+ countries. With a network spanning 50+ international stations and subsidiary Forin Container Line for sea freight, Skyways manages consistent volumes amid global trade growth.
The Skyways Air Services IPO comprises a fresh issue of 3.29 crore equity shares (face value ₹10 each) and an offer for sale (OFS) of 1.33 crore shares by promoters and shareholders, with proceeds targeting ₹216.78 crore for debt repayment, ₹130 crore for working capital, and general corporate purposes. This structure strengthens the balance sheet while enabling operational scaling in air and sea logistics. Listing will occur on BSE and NSE, led by Holani Consultants, Shannon Advisors, and Dolat Finserv, with Bigshare Services as registrar.
This comprehensive guide details every element of the Skyways Air Services IPO, covering Skyways Air Services date, valuation, subscription, Skyways Air Services IPO subscription status, and Skyways Air Services allotment status for informed investor decisions.
Skyways Air Services IPO Dates & Launch Details
- IPO opening date: To be announced
- IPO closing date: To be announced (Typically three days after opening)
- Basis of allotment: To be announced (Within 3 working days post closure)
- Refund initiation: To be announced (Shortly after basis of allotment)
- Expected listing date: To be announced (Usually within a week following allotment finalisation)
Lead Book Running Managers: Holani Consultants Pvt. Ltd., Shannon Advisors Pvt. Ltd., Dolat Finserv Pvt. Ltd. (tentative)
Registrar: Bigshare Services Pvt. Ltd.
Skyways Air Services Price Band & Investment Details
- Price band: To be announced (Face value: ₹10 per share)
- Minimum lot size: To be announced
- Minimum investment: To be announced
- Maximum retail investment: To be announced
Skyways Air Services IPO Structure
Detail | Information |
|---|---|
Issue Type | Fresh Capital + Offer for Sale (OFS) |
Total Issue Size | Approx 4.63 crore shares (3.29 crore fresh + 1.33 crore OFS) |
Fresh Issue Value | Not specified |
OFS Shares | Approx 1.33 crore shares by promoters/shareholders |
Reservations | QIB: up to 50%, NII: 15%, Retail: 35% |
Listing Exchanges | |
Registrar | Bigshare Services Pvt. Ltd. |
Lead Manager | Holani Consultants, Shannon Advisors, Dolat Finserv (tentative) |
About Skyways Air Services
Skyways Air Services has built a robust presence in India's air freight forwarding sector since 2007, offering end-to-end logistics including cargo consolidation, ground handling, and customs brokerage. Its subsidiary Forin Container Line complements with sea freight, creating a multimodal edge for time-sensitive shipments.
Key Highlights:
- Operates across 100+ countries with 50+ international stations, serving e-commerce, pharma, and export sectors
- Consistent profitability with ROE at 22.37% and steady revenue above ₹1,300 crore annually
- Promoters Yashpal Sharma (pre-issue holding ~82%) and Tarun Sharma provide experienced leadership
- Integrated services cover air/sea freight, warehousing, and supply chain tech for efficiency
- Focus on high-margin segments like perishables and express cargo amid e-commerce boom
Skyways' diversified model and global network position it well in India's logistics growth story.
Skyways Air Services Financials
Revenue and Profit Table
Period | Revenue from Operations (₹ Crore) | Net Profit (₹ Crore) |
|---|---|---|
9-months FY ‘25 | 1,637.20 | 36.80 |
FY ‘24 | 1,289.10 | 34.50 |
FY ‘23 | 1,484.10 | 37.90 |
FY ‘22 | 1,658.60 | 46.00 |
Cash Flow Table
Period | Cash Flow from Operations (₹ Crore) | Free Cash Flow (₹ Crore) |
|---|---|---|
9-months FY ‘25 | -22.00 | -67.20 |
FY ‘24 | -9.00 | -65.50 |
FY ‘23 | 71.60 | 38.90 |
FY ‘22 | 20.90 | 8.40 |
Key Highlights:
- Revenue fluctuated between ₹1,289-1,658 crore over FY22-9MFY25, driven by air freight volumes, with 9MFY25 showing strong growth to ₹1,637 crore amid e-commerce and export recovery.
- Net profit remained resilient at ₹34.5 with decrease from 46 crore in FY22, in 9MFY25 at ₹36.8 crore reflecting operational stability despite global trade volatility.
- Operating cash flows turned negative recently (-₹22 crore in 9MFY25) due to working capital needs, while free cash flow stayed negative amid investments, though FY23 peaked positively at ₹38.9 crore.
- Debt at ~₹422 crore (FY25 est.) will be reduced via IPO proceeds, improving leverage from current moderate levels.
- Consistent 3.8-4.1% margins, 22% ROE, and EBITDA ~3.75% highlight efficiency in a cyclical sector, positioning Skyways for scaling with better liquidity post-IPO.
Sector & Market Context
India's air freight forwarding market grows at 10-12% CAGR, propelled by e-commerce (Flipkart, Amazon), pharma exports, and PLI schemes for logistics. Skyways benefits from multimodal integration as air cargo handles 35% of high-value trade.
Global supply chain shifts favour consolidators like Skyways, with customs reforms and airport expansions (GMR, Adani) easing capacity. Digital tracking and cold-chain focus align with sector trends.
Government's USD 2 trillion export goal by 2030 creates opportunity, though freight rate volatility remains a watchpoint.
Key Considerations for Investors
Strengths
- Proven profitability with steady ₹1,300+ crore revenue and 22% ROE in competitive logistics
- Global network (100+ countries) and multimodal services for diversified revenue
- IPO-funded debt reduction enhances financial flexibility for expansion
- Experienced promoters with 82% pre-issue holding ensure alignment
Risks
- Negative recent cash flows signal working capital pressure in volume-driven business
- Freight rate volatility and fuel costs impact thin 3.8% margins
- Competition from DHL, Blue Dart, and global players in air cargo
- Regulatory changes in customs/aviation could affect operations
Opportunities
- E-commerce/pharma cargo boom with India's 20% logistics growth
- Sea-air synergies via subsidiary for integrated supply chains
- Tech adoption (tracking, AI routing) for premium services
IPO Structure
- The Skyways Air Services IPO blends a fresh issue of 3.29 crore shares for ₹216.78 crore debt repayment and ₹130 crore working capital with 1.33 crore OFS by promoters, optimising capital without heavy dilution.
- Fresh proceeds directly bolster liquidity, reducing borrowings and funding growth in air/sea freight amid trade expansion.
- Promoters Yashpal and Tarun Sharma retain a strong post-issue stake, maintaining strategic control in logistics.
- Standard book-built process allocates 35% to retail, with BSE/NSE listing to enable broad participation and liquidity.
About the Company
Founded in 2007, Skyways Air Services Ltd delivers integrated air freight and logistics solutions, emphasising reliability for India's export economy. Through subsidiary Forin Container Line, it supports multimodal cargo, aligning with national goals for efficient supply chains and job creation.
Conclusion
The Skyways Air Services IPO offers exposure to India's logistics surge, backed by consistent profits and IPO deleveraging. Yet, cash flow trends and sector cyclicality warrant caution. Always match with personal objectives and seek professional advice.
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FAQ
What is the size and structure of the Skyways Air Services IPO?
The Skyways Air Services IPO totals 4.62 crore shares, with 3.29 crore fresh issue for debt repayment/working capital and 1.33 crore OFS by promoters, strengthening operations while providing exit options.
Who are the key promoters and lead managers for the Skyways Air Services IPO?
Promoters Yashpal Sharma and Tarun Sharma hold ~82% pre-issue stake. Lead managers Holani Consultants, Shannon Advisors, and Dolat Finserv oversee the book-built process with Bigshare as registrar.
How will the IPO proceeds be utilised by Skyways Air Services?
Fresh issue funds ₹216.78 crore for debt pre-payment, ₹130 crore for working capital, and general corporate purposes, enhancing liquidity for air freight expansion and subsidiary growth.
When will the Skyways Air Services IPO open and where will shares list?
Skyways Air Services date is to be announced post-SEBI nod. Shares will list on BSE and NSE, with timelines on exchange sites during subscription.
What is Skyways Air Services' competitive edge?
Skyways excels with a 100+ country network, multimodal air-sea services, consistent 4% margins, and pharma/e-commerce focus in India's high-growth logistics sector.
How can retail investors apply for the Skyways Air Services IPO?
Apply via UPI/ASBA on platforms like m.Stock. Access IPO section, select lots, link UPI for mandate approval during the Skyways Air Services IPO subscription window.
What drives Skyways Air Services' financial stability?
Revenue of ₹1,289-1,658 crore and profits ₹34.5-46 crore over FY22-9MFY25 reflect resilience, with 22% ROE despite cash flow pressures from expansion.
How to check Skyways Air Services IPO subscription status?
Monitor Skyways Air Services IPO subscription status live on NSE/BSE portals; m.Stock dashboards provide category-wise oversubscription during the open period.
What risks affect Skyways Air Services valuation?
Concerns include freight volatility, negative cash flows, competition, and debt (~₹422 crore), influencing Skyways Air Services valuation amid logistics cycles.
How to check Skyways Air Services allotment status?
Post-allotment, use PAN/DP ID on Bigshare portal for Skyways Air Services allotment status; links available on exchanges and platforms after basis finalisation.