Skyways Air IPO
Market Sentiment
IPO Details
Market Lot Size
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Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 1,316.81 | 2,270.99 | 2,839.67 |
| Expense | 1,268.43 | 2,204.16 | 2,751.10 |
| Profit (PAT) | 34.49 | 48.14 | 63.52 |
| Total Assets | 790.35 | 1,321.64 | 1,508.24 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Delhivery Ltd | 2.04 | 260.00 | 1.58 | 129.40 | 10,508.31 Cr |
| TVS Supply Chain Solutions Ltd | 2.59 | 54.00 | 5.62 | 46.09 | 11,002.97 Cr |
| Mahindra Logistics Limited | 0.25 | 1,548.00 | 0.19 | 130.57 | 6,999.30 Cr |
| Shadowfax Technologies Limited | 2.22 | 104.00 | 6.40 | 34.04 | 4,202.44 Cr |
Promoters: Mr. Yashpal Sharma and Mr. Tarun Sharma
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 11,24,25,918 | 81.97% |
Strengths & Risks
- Heavily oversubscribed — 71.2x overall (so far).
- Strong institutional (QIB) demand — 139.7x.
- Revenue grew 25% in the latest reported year.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Thin profit margin — 2.2%.
- Elevated leverage — debt/equity of 1.88.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Since its establishment in 1984, Skyways Air Services Limited (SASL) has been engaged in air freight forwarding and the logistics sector in India. It offers a wide range of logistics solutions, such as air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, and technology-driven express cargo and parcel delivery services to serve the diverse needs of clients across domestic as well as international markets. Started its operations as a Custom House Agent (CHA) and now a Custom Broker License holder, over the years, it gradually expanded its services to match market needs and global trends. Logistics planning, cargo handling, warehousing and inventory management, documentation, customs clearance, and complete end-to-end distribution are the company’s Value-added services. Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa are some of the well-known global airlines in partnerships with Skyways air services. The constant global presence and continued expansion of its services enable the business to grow consistently.
Skyways Air Services Ltd., RZ 128-129A,, Mahipalpur Extension, NH-8,, Delhi, New Delhi, 110037
| Purpose | Amount (Cr) |
|---|---|
| Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and our Subsidiary “Forin Container Line Private Limited”. | 216.79 |
| Funding incremental working capital requirements of the Company. | 130.00 |
| General Corporate Purpose | - |
Resources & Documents
Skyways Air has set a price band of Rs 131–Rs 137 per share for an issue size of Rs 583 crore. The stock listed with a 8.77% discount versus its issue price on September 01, 2026.
Since its establishment in 1984, Skyways Air Services Limited (SASL) has been engaged in air freight forwarding and the logistics sector in India. It offers a wide range of logistics solutions, such as air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, and technology-driven express cargo and parcel delivery services to serve the diverse needs of clients across domestic as well as international markets.
The issue is promoted by Mr. Yashpal Sharma and Mr. Tarun Sharma with Holani Consultants Pvt. Ltd., Shannon Advisors Pvt. Ltd., Dolat Finserv Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and our Subsidiary “… (Rs 217 crore) and Funding incremental working capital requirements of the Company. (Rs 130 crore).
On fundamentals, the company is posting revenue growth of 25.0%, a profit margin of 2.2%, return on equity of 14.2% in its most recent reported period. Listed peers in this segment include Delhivery Ltd (P/E 260.00x) and TVS Supply Chain Solutions Ltd (P/E 54.00x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Skyways Air IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Skyways Air GMP history and trend, or learn how grey market premium works and how reliable it is.
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