Skyways Air Services IPO: Check price band, lot size, objectives and key dates

The ₹582.80 crore initial public offering of air freight forwarding and logistics company Skyways Air Services Ltd will hit the primary market on August 24. The issue will conclude on August 27. The price band has been set at ₹131 to ₹138 per share.

The initial share sale is a mix of fresh issuance of shares totalling ₹398.80 crore and an offer for sale (OFS) component of ₹184 crore by promoters Tarun Sharma and Yashpal Sharma and other selling shareholders, Rohit Sehgal and Himanshu Chhabra.

The fresh issue proceeds will be utilised for debt clearance, funding incremental working capital needs and corporate general purposes.

"We expect to achieve the benefits of listing of our equity shares bearing face value of ₹10 on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares bearing face value of ₹10 in India," the company said in its red herring prospectus.

Skyways Air Services IPO: Lot size

A lot consists of 100 shares and in multiples thereafter. The company has reserved half of the issue for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors (NIIs).

Skyways Air Services IPO: Allotment and listing date

Skyways Air Services Limited was established in 1984 and began its operations as a Custom House Agent (CHA), now known as a Custom Broker License holder, and has expanded its service offerings over the years.

The firm's portfolio includes air freight forwarding, trucking, comprehensive warehousing solutions, ocean freight forwarding, technology-driven express cargo and parcel delivery service.

The shares of the company will debut on the NSE and the BSE.