Skyways Air Services Ltd IPO
Logistics
Price Band
₹131 – ₹138
Lot Size
100
Minimum Bid Quantity
100
Minimum Investment
₹13800
Issue Size
₹582.8Cr
Opens
2026-08-24
Closes
2026-08-27
Listing
01-09-2026
Subscription Status
Qualified Institutional Buyers
139.69 x
Non-Institutional Investor
87.2 x
Retail Individual Investor
25.13 x
Total
71.11 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0PX301025
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Skyways Air Services Limited, established in 1984, is engaged in the air freight forwarding and logistics business. Its services include air and ocean freight forwarding, trucking, warehousing, customs broking, express cargo and parcel delivery, cargo handling, logistics planning and management, and documentation and customs clearance. The company also provides technology-enabled logistics services through platforms supporting freight quotations, booking management, shipment tracking, workflow management, documentation and operational reporting. Its subsidiaries operate across areas including road transportation, warehousing, ocean logistics, cross-border freight forwarding, express cargo delivery and information technology services. The company also has international subsidiaries and operations in markets including Germany, Hong Kong, the UAE, Vietnam, Cambodia, the United Kingdom, the United States, Canada and Saudi Arabia. It operates through a network across 28 cities in 12 states and one Union Territory in India. The company has also expanded its activities into logistics and cargo-related infrastructure, including cargo terminals, container freight stations, logistics parks, warehousing complexes and related facilities.
Pros
- • The company has a broad logistics network through global partnerships. It is affiliated with logistics networks including World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Connecting 5 Continents (C5C), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA), and Transport Worldwide International Group (TWIG), which collectively have over 26,300 logistics partners and exclusive agents worldwide.
- • The company has a diversified customer base across multiple industries. Its customers operate across pharmaceuticals, textiles and apparel, spare parts, machinery, electronics, automotive, engineering goods, food, industrial goods and other sectors. In FY26, pharmaceuticals accounted for 22.89% of revenue from operations, while textiles and apparel accounted for 13.04%.
- • The company has long-standing relationships with several customers. As of FY26, it had relationships extending over a decade with customers including A. Hartrodt (India), Cipla, J B Chemicals and Pharmaceuticals, Serum Institute of India, Torrent Pharmaceuticals and Savino Del Bene Freight Forwarding.
Cons
- • The company is 100% dependent on third-party carriers for cargo transportation, as it does not operate its own aircraft or shipping lines. Air cargo services, ocean cargo services, and express cargo and parcel services contributed Rs 2,166.40 crore (77.02%), Rs 422.60 crore (15.02%), and Rs 162.78 crore (5.79%), respectively, to revenue from operations in FY26, collectively accounting for 97.83% of total revenue. Any inability to secure adequate cargo capacity on commercially viable terms, or any disruption in carrier services, can adversely affect the company’s business and financial condition.
- • The company’s air freight realisation declined from Rs 280 per kg in FY25 to Rs 258 per kg in FY26, a decline of 7.88%, while ocean freight realisation declined from Rs 180,436 per TEU to Rs 149,462 per TEU, a decline of 18.79%. Any escalation in geopolitical conflicts, including the Russia-Ukraine conflict, Israel-Hamas war, Iran-Israel conflict, Red Sea crisis, or tensions between India and Pakistan, could further disrupt global supply chains, airspace and trade routes, increase energy and transportation costs, and adversely affect the company’s business and financial condition.
- • The company relies on a limited number of suppliers, with its top five suppliers accounting for Rs 903.15 crore (36.01%), Rs 629.16 crore (31.20%), and Rs 435.36 crore (38.29%) of its cost of service in FY26, FY25 and FY24, respectively. Any failure to maintain relationships with these suppliers or retain them on favourable terms could adversely affect the company’s revenues, profitability, and financial condition.
Get real-time IPO alerts on WhatsApp
Opening reminders • Subscription updates • GMP alerts • Allotment results
Start WhatsApp Alerts