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HomeIPOSkyways Air Services

About Skyways Air Services

Skyways Air Services Limited, or SASL, was incorporated in 1984 and is one of the leading air freight forwarding and logistics companies in India. The range of its logistics solutions comprises mainly air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, and technology-driven express cargo and parcel delivery services.The value-added services of Skyways Air Services Limited include logistics planning and management, cargo handling operations, warehousing and inventory management, documentation and customs clearance, and end-to-end distribution. The company similarly operates a robust, IT-enabled platform to support these services, and it sustains a strong global network through international alliances and affiliations with organizations such as the World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Combined Logistics Networks (CLN), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA), and the Transport Worldwide International Group (TWIG).It has performance-based agreements with leading international airlines such as Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa that ensure strong connectivity and service coverage across major markets. Skyways Air Services Limited has grown to become a multi-modal logistics player with cold storage facilities around Indira Gandhi International Airport for pharmaceuticals and temperature-sensitive cargo, and an integrated platform to offer air and ocean, road, and express delivery services. As of December 31, 2024, and for the periods ended March 31, 2024, 2023, and 2022, the company and its subsidiaries had 1,035, 950, 840, and 712 employees, respectively.

Checklist Quality Analysis

Live IPOs

National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Skyways Air Services

Skyways Air Services

Open Date

Aug 24, 2026

Close Date

Aug 27, 2026

listed

Min Investment

₹13,800

Lot Size

100 Shares

Issue Size

₹582.8 Cr

Price Range

₹131 - ₹131

Listing Date

Sep 1, 2026

IPO Doc

RHP PDF

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹32(+23.19%)GMP
23.19%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Skyways Air Services IPO - Issue Objectives

The company will use ₹130 crore for funding its incremental working capital requirements. ₹216.78 crore will repay outstanding borrowings of the company and subsidiary. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Working capital requirements

32.6%

Repayment of borrowings

54.3%

General corporate purposes

13.1%

1

Working capital requirements

The company will use ₹130 crore for funding its incremental working capital requirements.

32.60%
2

Repayment of borrowings

₹216.78 crore will repay outstanding borrowings of the company and subsidiary.

54.30%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

13.10%

IPO Subscription Status

QIB
139.69x
NII
87.24x
Individual
25.40x
Total
71.25x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Skyways Air Services

In Cr.

Key Performance Indicator30-Sep-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue1,340.722,270.991,316.811,496.11
EBITDA57.1586.4948.3458.71
Expenses
Profit After Tax25.4648.1434.4937.90
Assets1,313.581,321.64790.35448.29
Net Worth305.07247.14154.26125.19
Reserves
Borrowing577.05558.43357.34175.02

Skyways Air Services - Promoter(s)

Mr. Yashpal Sharma

Mr. Tarun Sharma

Pre Issue Share Holding

81.97%

Post Issue Share Holding

N/A

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Diversification of services portfolio

End-to-end logistics services certified with ISO 9001:2015, which increased income from ₹1,289 crore in FY24 to ₹2,813 crore in FY26.

02

Excellent network of partnerships

Partnerships with six international alliances and 26,300+ partnerships allow the company an asset-light international presence and negotiation of competitive freight rates.

03

Diversification of clients' portfolios

Revenue contribution by pharmaceutical clients has increased from 7.27% in FY24 to 22.89% in FY26, reducing revenue concentration risks.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Carriage dependency

The company lacks ownership of its own fleet of aircraft and is highly carriage dependent, with a YoY drop of 7.88% and 18.79% in realisations from air and ocean carriage, respectively, in FY26.

02

Geographical concentration

Revenue generated from Asia accounted for 85.5% of the total FY26 revenue, hence making the company susceptible to any disruption in the corridor.

03

Contact Details

Skyways Air Services

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

9910791501
cs@skyways-group.com
http://www.skyways-air.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200
ipo@bigshareonline.com
https://ipo.bigshareonline.com/ipo_status.html

Skyways Air Services IPO - FAQs

Skyways Air Services IPO is a Mainboard IPO. The issue is priced at 131-₹138. The minimum order quantity is 100 Shares. The IPO opens on 24 Aug, and closes on 27 Aug. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.









IPO Timeline

  • Pre Apply2026-08-20
  • Bidding Starts2026-08-24
  • Bidding Ends2026-08-27
  • Allotment Finalisation2026-08-28
  • Release of Funds2026-08-31
  • Demat Transfer2026-08-31
  • Listing2026-09-01

Process efficiency

Usage of the SLS 100x platform with 5,587 users, integration with Qatar Airways, and process automation by OCR/RPA increases the efficiency of the company.

05

Long-term client relations

Long-term client relations (starting from 2010) and important clients such as Cipla provide a constant flow of revenue.

Litigation of subsidiaries

There is an FIR against material subsidiary Brace Port Logistics regarding the fraud and bribery charges in the amount of ₹44.2 crore.

04

Working capital & guarantee dependency

86.2% of the working capital deficit in FY26 was financed through borrowings with personal guarantees amounting to ₹745.63 crore, forming 93.75% of the borrowings sanctioned.

05

Contingent liabilities and other commitments

Contingent liabilities of ₹289.08 crore represent an incredibly high 86.9% of net worth, with ₹238.8 crore being corporate guarantees offered by the company for its seven subsidiaries, meaning that any default by a subsidiary would have an immediate effect on the balance sheet of the parent company.