Delhi-based air freight forwarding and logistics company Skyways Air Services Ltd. has experienced significant market interest following its IPO filing, with shares hitting the 10% upper circuit limit on Wednesday trading session. According to BSE data, 430,824 equity shares were traded as of 1:57 p.m., with the stock trading at ₹162.60 against an opening price of ₹147.85. The strong market response comes as the company's draft red herring prospectus (DRHP) with SEBI continues to generate investor interest ahead of its public offering.
The IPO comprises a fresh issue of up to 3.292 crore equity shares with a face value of ₹10 each and an offer for sale of up to 1.333 crore equity shares by promoters and other selling shareholders. The proceeds from the fresh issuance will be utilized for ₹216.79 crore for repayment of outstanding borrowings, ₹130 crore for funding incremental working capital requirements, and general corporate purposes. In the offer for sale component, shareholders selling shares include 71.2 lakh equity shares by Yashpal Sharma, 24.6 lakh by Tarun Sharma, 18.7 lakh by Himanshu Chhabra, and 18.7 lakh by Rohit Sehgal.
According to the company's financial disclosures, Skyways Air Services Ltd. recorded revenue from operations of ₹1,289.11 crore and profit after tax of ₹34.49 crore for fiscal 2024. For the nine-month period ended December 31, 2024, the company achieved revenue from operations of ₹1,637.22 crore and profit after tax of ₹36.84 crore. The company has also recently issued a Letter of Comfort to ICICI Bank Limited for its subsidiary Uniformverse Private Limited, which has availed a ₹49.90 million credit facility. The company was established in 1984 as a Custom House Agent and has evolved into a multi-modal logistics service provider offering air freight forwarding, ocean freight forwarding, trucking, warehousing solutions, and technology-driven express cargo services.
The equity shares are proposed to be listed on both BSE and NSE exchanges. Holani Consultants, Shannon Advisors, and Dolat Finserv are serving as the book-running lead managers for the IPO, while Bigshare Services has been appointed as the registrar of the offer. The company has also scheduled a board meeting on February 10, 2026 to release its unaudited financial results for the quarter ended December 31, 2025. As reported by CNBC TV18, the company has expanded its service offerings over the years in response to evolving market requirements and international trade dynamics, positioning itself as a comprehensive logistics service provider for diverse client requirements.