The anchor investor portion will open for bidding on August 21.
Investors can bid for a minimum of 100 shares and in multiples thereof. At the upper end of the price band, Skyways Air Services is expected to command a post-listing market capitalisation of ₹2,005.74 crore.
The IPO comprises a fresh issue of shares and an offer-for-sale (OFS).
The company will issue 2.88 crore equity shares through the fresh issue, while existing shareholders, including promoters Yashpal Sharma and his brother Tarun Sharma, will sell up to 1.33 crore shares through the OFS.
The fresh issue size has been reduced from the 3.29 crore equity shares proposed in the company’s draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) in June 2025, following the pre-IPO fundraise. SEBI cleared the company’s IPO papers in November 2025.
Skyways Air Services has already raised ₹48.23 crore through a pre-IPO placement of 40.19 lakh equity shares at ₹120 apiece.
“The amount raised from the pre-IPO placement is currently parked in fixed deposit receipts and will be utilised for general corporate purposes,” the company said.
Of the total issue size, 50% has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.
The company will use ₹216.78 crore from the net fresh issue proceeds to repay debt of the company and its subsidiary, Forin Container Line.
As of June 2026, Skyways Air Services had total outstanding borrowings of ₹504.65 crore on a standalone basis, while Forin Container Line had outstanding borrowings of ₹81.58 crore.
A further ₹130 crore will be used to meet incremental working capital requirements, while the remaining proceeds will be utilised for general corporate purposes. The proceeds from the OFS will accrue to the selling shareholders.
Skyways Air Services has reported healthy financial performance in recent years, with net profit rising 32% to ₹63.5 crore in the year ended March 2026, from ₹48.1 crore a year earlier. Revenue increased 25.1% to ₹2,812.9 crore from ₹2,247.8 crore during the same period.
Holani Consultants, Shannon Advisors and Dolat Finserv have been appointed as merchant bankers to the Skyways Air Services IPO.
The company is expected to finalise the IPO share allotment by August 28 and is likely to make its market debut on the stock exchanges on September 1, 2026.
