Skyways Air Services IPO: Air Freight Forwarder Files Draft Papers

Skyways Air Services Ltd. on Tuesday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of 3.29 crore shares and an offer-for-sale of 1.33 crore shares by selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of 62.5 crore equity shares as pre-IPO placement. The pre-IPO placement, if undertaken, shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.

Yashpal Sharma and Tarun Sharma are the promoters of the company offloading shares in the offer for sale. Himanshu Chhabra and Rohit Sehgal are the two shareholders that are offloading shares in the OFS.

Holani Consultants Pvt., Shannon Advisors Pvt. and Dolat Finserv Pvt. are the book-running lead managers for the issue and Bigshare Services Pvt. will be the registrar of the issue.

The proceeds from its fresh issuance to the extent of Rs 216.79 crore will be used for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company and its subsidiary. Additionally, proceeds amounting to Rs 130 crore will be allocated for funding incremental working capital requirements of the company and general corporate purposes.

The Delhi-based company was established in the year 1984 and began its operations as a Custom House Agent— now known as a Custom Broker License holder—and has expanded its service offerings beyond air freight forwarding and custom broking service, evolving into a multi-modal logistics service provider.

The company's portfolio includes air freight forwarding, ocean freight forwarding, trucking, comprehensive warehousing solutions, technology-driven express cargo and parcel delivery service, and continued excellence in customs broking services, thereby offering an integrated logistics platform for a diverse range of clients.

Skyways Air Services’ revenue from operations and profit for fiscal year 2024 stood at Rs 1,289.11 crore and Rs 34.49 crore, respectively. For the nine-month period ended December 31, 2024, revenue from operations and profit stood at Rs 1,637.22 crore and Rs 36.84 crore, respectively.