{"id":52894,"date":"2026-08-14T16:45:58","date_gmt":"2026-08-14T11:15:58","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=52894"},"modified":"2026-08-14T16:45:58","modified_gmt":"2026-08-14T11:15:58","slug":"skyways-air-services-ipo","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/skyways-air-services-ipo\/","title":{"rendered":"Skyways Air Services IPO"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"52894\" class=\"elementor elementor-52894\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2dd00e3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2dd00e3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8bcfca8\" 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700;\n        color: #64748b;\n        text-align: left;\n      }\n    }\n  <\/style>\n<\/head>\n<body>\n\n<div class=\"cmr-article-wrapper\">\n\n  <!-- \u2500\u2500 IPO AT A GLANCE \u2500\u2500 -->\n  <div class=\"cmr-glance-title\">IPO at a Glance<\/div>\n  \n  <div class=\"cmr-glance-grid\">\n    <div class=\"cmr-glance-item cmr-highlight\">\n      <div class=\"cmr-g-label\">Price Band<\/div>\n      <div class=\"cmr-g-value\">\u20b9131 to \u20b9138<\/div>\n      <div class=\"cmr-g-sub\">Face Value \u20b910 \/ share<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item cmr-highlight\">\n      <div class=\"cmr-g-label\">Issue Opens<\/div>\n      <div class=\"cmr-g-value\">Aug 24<\/div>\n      <div class=\"cmr-g-sub\">Closes Aug 27, 2026<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Lot Size<\/div>\n      <div class=\"cmr-g-value\">100 Shares<\/div>\n      <div class=\"cmr-g-sub\">Min Investment: \u20b913,800<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Total Size<\/div>\n      <div class=\"cmr-g-value\">\u20b9583 Cr<\/div>\n      <div class=\"cmr-g-sub\">Fresh + OFS<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Listing At<\/div>\n      <div class=\"cmr-g-value\">BSE &amp; NSE<\/div>\n      <div class=\"cmr-g-sub\">Tentative: Sep 1, 2026<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Lead Manager<\/div>\n      <div class=\"cmr-g-value\" style=\"font-size: 14px; font-weight: 600; color: #006666;\">Holani Consultants<\/div>\n      <div class=\"cmr-g-sub\">Registrar: Bigshare Services<\/div>\n    <\/div>\n  <\/div>\n\n  <!-- \u2500\u2500 ABOUT THE COMPANY \u2500\u2500 -->\n  <h2>About the Company: India&#8217;s Leading Air Freight Forwarder<\/h2>\n  <p>\n    Incorporated in <strong>December 1984<\/strong>, Skyways Air Services Limited (SASL) is a premier logistics and freight forwarding company with over four decades of operational excellence in India&#8217;s logistics sector. Evolving from a Custom House Agent, the company has transformed into a comprehensive multi-modal logistics provider offering end-to-end supply chain services across domestic and international markets.\n  <\/p>\n  <p>\n    The company offers a versatile portfolio spanning air and ocean freight forwarding, surface transport (trucking), warehousing, customs broking, and technology-driven express cargo\/parcel delivery. Notably, Skyways Air Services has been consistently ranked as the <strong>No. 1 Air Freight Forwarder in India<\/strong> in terms of Air Waybills (AWBs) generated by World ACD for four consecutive years (2022 to 2025).\n  <\/p>\n  <p>\n    Supported by strategic global partnerships with top airlines (such as Saudi Cargo, Air India Cargo, Emirates, and Lufthansa) and proprietary digital platforms (including SLS HIKE, Cargo Dash, and Skart-Edge), the company manages extensive cross-border cargo flows. As of June 30, 2026, the company employed 320 professionals, with a broader network of 1,193 personnel across subsidiaries.\n  <\/p>\n\n  <ul class=\"cmr-feature-list\">\n    <li>\n      Over 40 years of market leadership and industry domain expertise in freight forwarding.\n    <\/li>\n    <li>\n      Ranked No. 1 Air Freight Forwarder in India by AWBs generated (2022\u20132025, World ACD).\n    <\/li>\n    <li>\n      Strategic global carrier partnerships with airlines such as Lufthansa, Emirates, and Air India Cargo.\n    <\/li>\n    <li>\n      Proprietary digital logistics stack powering automated booking, tracking, and customs documentation.\n    <\/li>\n  <\/ul>\n\n  <p>\n    The company\u2019s promoters are <strong>Yashpal Sharma and Tarun Sharma<\/strong>.\n  <\/p>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 FINANCIALS \u2500\u2500 -->\n  <h2>Financial Trends &amp; Performance<\/h2>\n  <p>\n    Skyways Air Services Ltd.&#8217;s revenue expanded by 25% while profit after tax (PAT) rose by 32% between the financial years ending March 31, 2026, and March 31, 2025.\n  <\/p>\n\n  <div class=\"table-container\">\n    <table class=\"fin-table\">\n      <thead>\n        <tr>\n          <th>Period Ended<\/th>\n          <th>31 Mar 2026<\/th>\n          <th>31 Mar 2025<\/th>\n          <th>31 Mar 2024<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>Total Assets<\/td><td data-label=\"31 Mar 2026\">\u20b91,508.24 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b91,321.64 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9790.35 Cr<\/td><\/tr>\n        <tr><td>Total Income<\/td><td data-label=\"31 Mar 2026\">\u20b92,839.67 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b92,270.99 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b91,316.81 Cr<\/td><\/tr>\n        <tr><td>Profit After Tax (PAT)<\/td><td data-label=\"31 Mar 2026\">\u20b963.52 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b948.14 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b934.49 Cr<\/td><\/tr>\n        <tr><td>EBITDA<\/td><td data-label=\"31 Mar 2026\">\u20b9125.65 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b986.49 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b948.34 Cr<\/td><\/tr>\n        <tr><td>Net Worth<\/td><td data-label=\"31 Mar 2026\">\u20b9332.64 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9247.14 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9154.26 Cr<\/td><\/tr>\n        <tr><td>Total Borrowings<\/td><td data-label=\"31 Mar 2026\">\u20b9624.06 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9558.43 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9357.34 Cr<\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p class=\"fin-note\">All figures in \u20b9 Crore &nbsp;|&nbsp; Source: Chittorgarh \/ DRHP (Restated Consolidated)<\/p>\n\n  <!-- KPIs -->\n  <h2>Key Performance Indicators &amp; Valuation (FY2026)<\/h2>\n  <div class=\"kpi-grid\">\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">18.11%<\/div>\n      <div class=\"kpi-label\">ROCE (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">14.15%<\/div>\n      <div class=\"kpi-label\">ROE (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">12.33%<\/div>\n      <div class=\"kpi-label\">RoNW (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">\u20b928.91<\/div>\n      <div class=\"kpi-label\">NAV per share<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">4.47%<\/div>\n      <div class=\"kpi-label\">EBITDA Margin<\/div>\n    <\/div>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 COMPETITIVE STRENGTHS \u2500\u2500 -->\n  <h2>Competitive Strengths<\/h2>\n  <ul class=\"cmr-feature-list\">\n    <li>\n      <strong>Dominant Market Position:<\/strong> India&#8217;s leading air freight consolidator with deep domestic and international airline allocations.\n    <\/li>\n    <li>\n      <strong>Consistent Revenue Scaling:<\/strong> Top-line revenue expanding rapidly from \u20b91,316.81 Cr in FY24 to \u20b92,839.67 Cr in FY26.\n    <\/li>\n    <li>\n      <strong>End-to-End Multi-Modal Integration:<\/strong> Comprehensive capabilities across air, ocean, multimodal freight, and custom clearances.\n    <\/li>\n    <li>\n      <strong>Tech-Enabled Execution:<\/strong> Integrated in-house digital platforms providing live tracking, automated booking, and ERP capabilities.\n    <\/li>\n  <\/ul>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 ISSUE RESERVATION \u2500\u2500 -->\n  <h2>Issue Reservation<\/h2>\n  <div class=\"table-container\">\n    <table class=\"res-table\">\n      <thead>\n        <tr>\n          <th>Investor Category<\/th>\n          <th>Shares Offered<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>QIB Shares Offered<\/td><td>2,10,80,000 shares (49.92% of the issue)<\/td><\/tr>\n        <tr><td>Retail Shares Offered<\/td><td>1,48,00,000 shares (35.04% of the issue)<\/td><\/tr>\n        <tr><td>NII (HNI) Shares Offered<\/td><td>63,51,600 shares (15.04% of the issue)<\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 OBJECTS OF ISSUE \u2500\u2500 -->\n  <h2>IPO Structure &amp; Use of Proceeds<\/h2>\n  <p>\n    The \u20b9582.80 Cr issue comprises a Fresh Issue of \u20b9398.80 Cr (2,88,98,300 shares) and an Offer for Sale of \u20b9184.00 Cr (1,33,33,300 shares) by selling promoters and investors. The fresh proceeds are proposed to be allocated as follows:\n  <\/p>\n\n  <ul class=\"objects-list\">\n    <li>\n      <span class=\"obj-label\">Repayment\/pre-payment, in full or part, of certain borrowings of the Company and subsidiary Forin Container Line Pvt. Ltd.<\/span>\n      <span class=\"obj-amt\">\u20b9216.79 Cr<\/span>\n    <\/li>\n    <li>\n      <span class=\"obj-label\">Funding incremental working capital requirements of the Company<\/span>\n      <span class=\"obj-amt\">\u20b9130.00 Cr<\/span>\n    <\/li>\n    <li>\n      <span class=\"obj-label\">General corporate purposes<\/span>\n      <span class=\"obj-amt\">Balance<\/span>\n    <\/li>\n  <\/ul>\n\n  <p>\n    Bidding opens on <strong>August 24, 2026<\/strong> and closes on <strong>August 27, 2026<\/strong>. Minimum retail application lot size is fixed at 100 shares (\u20b913,800 based on upper price band).\n  <\/p>\n\n  <!-- \u2500\u2500 VERDICT \u2500\u2500 -->\n  <div class=\"cmr-verdict-card\">\n    <div class=\"cmr-verdict-title\">The Final Verdict<\/div>\n    <p>\n      Skyways Air Services Limited stands as a market leader in Indian air freight forwarding, demonstrating solid revenue expansion to \u20b92,839.67 Cr and a growing PAT of \u20b963.52 Cr in FY26.\n    <\/p>\n    <p style=\"margin-top: 12px;\">\n      The business demonstrates healthy operational efficiency (ROCE of 18.11%). Utilizing \u20b9216.79 Cr of the fresh proceeds toward debt reduction will significantly trim finance costs, while \u20b9130 Cr allocated to working capital provides the necessary bandwidth to support growing multi-modal cargo volumes. Investors looking for established logistics and global supply chain plays can review this issue closely.\n    <\/p>\n  <\/div>\n\n  <!-- \u2500\u2500 CTA \u2500\u2500 -->\n  <div class=\"cta-wrap\">\n    <a class=\"cta-btn\" href=\"https:\/\/novo.flattrade.in\/\" target=\"_blank\" rel=\"noopener\">\n      Apply for Skyways Air Services IPO on Flattrade\n    <\/a>\n  <\/div>\n\n  <div class=\"source-note\">Source: Chittorgarh IPO Filings<\/div>\n\n<\/div>\n\n<\/body>\n<\/html>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ebe59e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ebe59e1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column 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Value&hellip;","protected":false},"author":10,"featured_media":52901,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-52894","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uncategorized","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Skyways Air Services IPO - Flattrade Kosh<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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