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Skyways Air Services Limited
82.71xsubscribed

Skyways Air Services Limited

Logistics
listed
₹13,100Min. investment

Skyways Air Services Limited IPO Details

SectorLogistics
Price range₹131 – ₹138
IPO type
Regular
Lot size100 shares
Issue size₹583Cr
Red Herring Prospectus
Read
Market cap
₹2,005CrHigher than sector avg
RevenueApr 2025 - Mar 2026
₹2,812CrHigher than sector avg
Growth rate3Y CAGR
47.72%Higher than sector avg

Skyways Air Services Limited Subscription Status

Date
QIB
NII
Retail
Total
24-Aug-26
0.01 times (X)
2.08 times (X)
1.18 times (X)
0.87 times (X)
25-Aug-26
0.01X
5.81X
2.42X
1.9X
26-Aug-26
0.06X
20.49X
6.94X
5.94X
27-Aug-26
90.64X
258.34X
24.78X
82.71X

As on 24-Aug-26, 5:30 PM

Skyways Air Services Limited Timeline

  1. Pre-apply
    20 Aug 2026
  2. Bid start
    24 Aug 2026
  3. Bid end
    27 Aug 2026
  4. Allotment
    28 Aug 2026
  5. Release of funds
    31 Aug 2026
  6. Demat transfer
    31 Aug 2026
  7. Listing
    1 Sep 2026

About Skyways Air Services Limited

Skyways Air Services is a logistics and freight-forwarding company offering air and ocean freight forwarding, trucking, warehousing, customs broking, express cargo and parcel delivery, and other value-added services. Incorporated in 1984, the company has over four decades of experience in the logistics industry. It started as a custom house agent and gradually expanded into a multi-modal logistics provider offering services across the supply chain. The company has also been ranked No. 1 “Air Freight Forwarder” by AWBs generated, according to World ACD, for each of the last four calendar years, 2022–2025.
Air freight is the company's largest business, contributing ₹2,166.40 crore or 77.02% of revenue from operations in FY26. Ocean cargo contributed ₹422.60 crore or 15.02%, while express cargo and parcel services accounted for ₹162.78 crore or 5.79%.
Domestic sales accounted for ₹2,110 crore or 74.3% of total revenue in FY26. Sales to foreign countries from India contributed ₹381.5 crore or 13.4%, while sales generated by foreign subsidiaries in foreign currency contributed ₹320.5 crore or 11.2%. The company served 9,504 customers during the year and handled 83,923 tonnes of air cargo, including 69,780 tonnes of exports, 7,601 tonnes of imports and 6,542 tonnes handled by foreign subsidiaries.
As of March 31, 2026, Skyways Air Services had a presence in 12 countries and 12 Indian states and Union Territories. It had relationships with 56 airlines, five warehouses and 31 pickup and delivery centres, while its express business covered 1,204 pin codes. The company serves customers across 65 key industries and has also developed technology platforms such as SLS HIKE, SLS 100X, SLS 100X 2.0 and ASAP for freight booking, shipment tracking, workflow automation and operational reporting.
Going ahead, the company plans to improve operating efficiency, expand its relationships with existing customers, enter new industry segments and grow its international presence. It is also looking to expand into logistics infrastructure, including cargo terminals, logistics parks and warehousing facilities. The company had participated in a consortium bid with Swissport International AG and Cargo Logistics and Allied Services Company for developing a new cargo terminal at Netaji Subhas Chandra Bose International Airport, Kolkata.
India’s logistics sector is closely linked to the growth of manufacturing, trade, e-commerce and cross-border movement of goods. Logistics costs in India currently stand at around 7.8–8.9% of GDP, which is broadly comparable with levels seen in developed economies. The Indian logistics sector was valued at $215 billion in 2021 and is expected to grow at a CAGR of 10.7% to around $357 billion by FY26.
Air cargo is an important part of this market, particularly for time-sensitive and high-value goods. India’s air cargo volumes increased from 3.33 million tonnes in FY20 to 3.96 million tonnes in FY26. International cargo continued to account for the larger share of India’s air freight volumes.
E-commerce and cross-border trade are increasing the need for faster delivery and better shipment tracking, while the growth of manufacturing and exports is creating additional demand for freight movement between production centres, warehouses, airports and ports. This is also increasing the need for logistics companies that can handle different modes of transportation.
Skyways can benefit from these trends through its air freight business as well as its ocean, express and road logistics operations. Its air cargo volumes increased from 48,013 tonnes in FY24 to 83,924 tonnes in FY26, while its presence across international markets and relationships with airlines have also expanded. The company is also looking to enter logistics infrastructure such as cargo terminals and warehousing, giving it another avenue to benefit from the expected increase in cargo movement.
Now, Skyways Air Services is launching its initial public offering (IPO), which consists of a Fresh issue of ₹398.80 crore and an offer for sale of ₹184 crore. The total issue size of the IPO is ₹582.80 crore. Its shares will be listed on the NSE and BSE.

How to pre-apply for Skyways Air Services IPO?

You can pre-apply for Skyways Air Services IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ‘Discover’
  • On the Discover tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Skyways Air Services IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Pre-Apply’
  • Accept the mandate on your UPI app

How to apply for Skyways Air Services IPO?

If you are interested in this investment opportunity but unsure how to apply for Skyways Air Services IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Skyways Air Services IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Skyways Air Services IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

How to check allotment status for Skyways Air Services IPO?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Skyways Air Services IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, you will find the ‘View all’ option
  • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  • In the ‘IPO’ tab, click on ‘My applications’
  • In ‘My applications’, under the History section, your Skyways Air Services IPO allotment status will be mentioned

Skyways Air Services Limited IPO Analysis

IPO REVIEW

Skyways Air Services Limited | Analysis Video

Should you apply?

Watch our analysts break down the Skyways Air Services Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

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.

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.

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.

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.

Long-term client relations

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

Objectives of Skyways Air Services Limited IPO

Repayment of borrowings
54.30%
₹216.78 crore will repay outstanding borrowings of the company and subsidiary.
Working capital requirements
32.60%
The company will use ₹130 crore for funding its incremental working capital requirements.
General corporate purposes
13.10%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹2,812Cr47.72%₹63.52Cr₹2,005Cr38.761.26
This sector (avg.)₹711.28Cr0.02%-₹13.78Cr₹1,677.75Cr34.350.59
₹8,887.02Cr---₹1,291.84Cr₹38,252.26Cr31.230.07
₹6,763.79Cr---₹787.42Cr₹25,640.55Cr35.750.99
₹426.73Cr----₹38.28Cr₹10,164.42Cr29.860.03

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Skyways Air Services Limited Contact Details

Company NameSkyways Air Services Limited

How to apply for Skyways Air Services Limited?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Skyways Air Services Limited IPO FAQs

Investors can apply for the Skyways Air Services Limited through their Demat account via the stock exchange or through their broker.
The issue size of the Skyways Air Services Limited is 583 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Skyways Air Services Limited will be open between 2026-08-24 and 2026-08-27.
Skyways Air Services Limited allotment date is 2026-08-31. For Skyways Air Services Limited allotment status check, you can visit the website of the registrar of the IPO.
For Skyways Air Services Limited, the IPO registrar is Bigshare Services Private Limited. You can check Skyways Air Services Limited allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Skyways Air Services Limited shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Skyways Air Services Limited lot size is 100 and minimum order quantity is 100.
Skyways Air Services Limited has set the price band for its IPO at 138 per equity share with a face value of 10.