Skyways To Use Rs 216 Crore IPO Proceeds to Retire Debt, Turn Net Cash Positive
Skyways plans to deploy around Rs 216 crore from its proposed IPO towards debt reduction, a move that will help the logistics company become net cash positive and improve profitability, Chairman and Managing Director Yashpal Sharma told NDTV Profit. The company has also earmarked about Rs 130 crore for working capital to support growth in India and overseas, banking on rising manufacturing activity and expanding logistics demand.
