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SKYWAYS AIR IPO

ALREADY DEPARTEDNSE, BSE · MAINBOARD · LOGISTICS SOLUTION PROVIDER
INDICATIVE FARE / PRICE BAND
₹138
BAND INDICATIVE · NOTHING FINAL UNTIL THE RHP
FIGURES ON THIS PAGE AS OF 02 SEPT 2026, 17:01 IST · REFRESHED THROUGH THE DAY
THE FARE BOARD · KEY NUMBERS

BY THE NUMBERS.

PRICE BAND
₹138
LOT SIZE
100 SHARES
ISSUE SIZE
₹582.80 CR
MIN INVESTMENT
₹13,800 · 100 SHARES
P/E RATIO
25.27
THE TIMETABLE · FOUR STOPS
THE JOURNEY.
OPENS
24 AUG 26
✓ STOP CLEARED
CLOSES
27 AUG 26
✓ STOP CLEARED
ALLOTMENT
28 AUG 26
✓ STOP CLEARED
LISTING
01 SEPT 26
✓ STOP CLEARED
ANCHOR BIDDING21 AUG 26REFUNDS INITIATED31 AUG 26SHARES IN DEMAT31 AUG 26ANCHOR LOCK-IN ENDS · 30 DAY27 SEPT 26ANCHOR LOCK-IN ENDS · 90 DAY26 NOV 26
TIMETABLE AS FILED · DATES CAN MOVE · CONFIRM AGAINST THE OFFICIAL RHP AND THE REGISTRAR
END OF THE LINE · LISTING DAY

WHERE IT LANDED.

LISTING PRICE
₹124
DAY-1 LISTING GAIN
-10.14%
THE BOOKING SHEET · SUBSCRIPTION

HOW FULL THE BUS GOT.

OVERALL SUBSCRIPTION71.25×
QIB139.69×
NII87.24×
SMALL HNI79.04×
BIG HNI91.33×
RETAIL25.4×
THE CENTRE TICK = 1× · BUS FULL · SUBSCRIPTION FIGURES AS REPORTED BY THE EXCHANGES · TIMES THE ISSUE · INFORMATION ONLY
THE FARE TABLE · WHAT AN APPLICATION COSTS

TICKET CLASSES.

APPLICATIONLOTSSHARESAMOUNT
RETAIL · MINIMUM · AS PUBLISHED1100₹13,800
RETAIL · MAXIMUM · COMPUTED141,400₹1,93,200
SMALL HNI · MINIMUM · AS PUBLISHED151,500₹2,07,000
SMALL HNI · MAXIMUM · COMPUTED727,200₹9,93,600
BIG HNI · MINIMUM · AS PUBLISHED737,300₹10,07,400
EACH ROW SAYS WHETHER ITS FIGURES ARE THE QUANTITIES PUBLISHED FOR THIS ISSUE OR OUR OWN ARITHMETIC · COMPUTED ROWS ARE LOT SIZE × UPPER BAND · AMOUNTS AT THE UPPER BAND OF ₹138 · CATEGORY LIMITS PER SEBI THRESHOLDS (₹2 LAKH RETAIL CEILING, ₹10 LAKH SHNI/BHNI BOUNDARY) · INFORMATION ONLY · WE DO NOT ACCEPT OR PROCESS IPO APPLICATIONS
THE MANIFEST · ISSUE STRUCTURE

HOW THE ISSUE IS BUILT.

FACE VALUE
₹10
ISSUE TYPE
BOOK BUILD ISSUE
FRESH ISSUE
₹398.8 CR
2,88,98,300 SHARES
OFFER FOR SALE
₹184 CR
1,33,33,300 SHARES
TOTAL SHARES OFFERED
4,22,31,600

The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.

FIGURES AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
THE GAUGES · VALUATION AND RETURNS

ON THE DASHBOARD.

EPS · PRE-ISSUE
5.46
EPS · POST-ISSUE
4.37
P/E RATIO
25.27
P/E · POST-ISSUE
31.58
RONW
15.85%
ROCE
14.61%
ROE
19.52%
PAT MARGIN
2.14%
EBITDA MARGIN
3.85%
PRICE / BOOK
5.9
NAV PER SHARE
₹23.4
DEBT / EQUITY
1.42
MARKET CAP
₹2,005.74 CR
FIGURES STATED AS OF 31 MAR 2025 · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · A REPORTED RATIO IS NOT A VIEW ON VALUE · CONFIRM AGAINST THE OFFICIAL RHP
THE LOGBOOK · REPORTED FINANCIALS

THE RUNNING RECORD.

INR CR31 MAR 2431 MAR 2531 MAR 26
ASSETS790.351,321.641,508.24
TOTAL INCOME1,316.812,270.992,839.67
PROFIT AFTER TAX34.4948.1463.52
EBITDA48.3486.49125.65
NET WORTH154.26247.14332.64
TOTAL BORROWING357.34558.43624.06
AMOUNTS IN INR CR · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · CONFIRM AGAINST THE OFFICIAL RHP
OTHER SERVICES ON THIS ROUTE · PEER GROUP

WHO ELSE RUNS THIS LINE.

PEEREPS (BASIC)EPS (DILUTED)NAV (₹ PER SHARE)P/E (X)RONW (%)FINANCIAL STATEMENTS
Skyways Air Services Ltd. · THIS ISSUER3.563.5628.9112.33Consolidated
Delhivery Ltd2.042129.42601.58Consolidated
Tvs Supply Chain Solutions Ltd2.592.5946.09545.62Consolidated
Mahindra Logistics Ltd0.250.25130.571,5480.19Consolidated
Shadowfax Technologies Ltd2.222.1834.041046.4Consolidated
PEER GROUP STRUCK AS AT 31 MAR 2026 · AS PUBLISHED FOR THIS ISSUE · NOT LIVE MARKET QUOTES, AND NOT A COMPARISON DRAWN BY BUYUNLISTEDSHARES
THE NOTE PUBLISHED WITH THIS PEER GROUP

Source: All the financial information for listed industry peers mentioned above is on a Consolidated basis from the audited financial statements of a respective company for the year ended March 31, 2026, submitted to stock exchange i.e., National Stock Exchange of India Limited and from the respective company website. Notes : Considering the nature and size of the business of the Company, the peers are not strictly comparable. However, the above Companies have been included for broad comparison. Basic EPS and Diluted EPS refer to the Basic EPS and Diluted EPS sourced from the financial statements of the respective company for the year ended March 31, 2026. P/E Ratio has been computed based on the closing market price of equity shares on Stock exchange (National Stock Exchange of India Limited) as on July 10, 2026 divided by the Diluted EPS provided above in the table. For listed peers, RONW is computed as profit after tax for the year ended March 31, 2026, divided by Shareholder's equity. Shareholder's Equity has been computed as sum of paid-up share capital and reserve & surplus. Net Asset Value per share ("NAV") (in ₹) is computed as the closing net worth divided by the equity shares outstanding as on March 31, 2026.

WHERE THE FARE GOES · OBJECTS OF THE ISSUE

WHAT THE MONEY IS FOR.

OBJECT OF THE ISSUEINR CR
Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and Subsidiary Forin Container Line Pvt.Ltd..216.79
Funding incremental working capital requirements of the Company.130
General Corporate Purposes
INR CR 346.79 ALLOCATED IN TOTAL · OBJECTS AND AMOUNTS AS PUBLISHED FOR THIS ISSUE · AN OBJECT WITH NO AMOUNT AGAINST IT IS SHOWN AS PUBLISHED · CONFIRM AGAINST THE OFFICIAL RHP
THE SEATING PLAN · CATEGORY RESERVATION

WHO GETS WHICH SEATS.

ANCHOR INVESTOR
1,26,48,000
SHARES
QIB
84,32,000
Not more than 50% of the Offer
NII (HNI)
63,51,600
Not less than 15% of the Offer
SNII
21,17,200
SHARES
BNII
42,34,400
SHARES
RETAIL
1,48,00,000
Not less than 35% of the Offer
4,22,31,600 SHARES ACROSS ALL CATEGORIES · CATEGORY SPLIT AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
ABOUT THIS SERVICE

Skyways Air Services Limited (SASL) is one of India's prominent logistics and freight forwarding companies, offering comprehensive supply chain and transportation solutions across domestic and international markets. The company's service portfolio includes air freight forwarding, ocean freight forwarding, road transportation, warehousing, customs brokerage, and technology-enabled express cargo and parcel delivery services. It also provides end-to-end logistics support through value-added offerings such as supply chain planning, cargo handling, inventory management, customs documentation, clearance services, and distribution management. To enhance operational efficiency, SASL utilizes a robust IT-driven logistics platform and leverages an extensive global partner network. The company is affiliated with several international logistics organizations, including the World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Combined Logistics Networks (CLN), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA), and Transport Worldwide International Group (TWIG). Skyways has established strategic performance-based partnerships with major international carriers such as Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa. These collaborations strengthen its global connectivity and enable efficient cargo movement across key trade routes. Over the years, the company has expanded beyond traditional freight forwarding to become an integrated multi-modal logistics provider. Its offerings include specialized cold-chain storage facilities located near Indira Gandhi International Airport, catering to pharmaceutical products and other temperature-sensitive shipments, alongside seamless air, sea, road, and express logistics solutions. As of December 31, 2024, Skyways Air Services Limited and its subsidiaries employed 1,035 professionals. The workforce has grown steadily over the years, with employee strength standing at 950, 840, and 712 as of March 31, 2024, 2023, and 2022, respectively.

THE CREW · WHO IS RUNNING THIS SERVICE

ON THE ROSTER.

PROMOTERS
NAMES
Yashpal Sharma, Tarun Sharma
HOLDING PRE-ISSUE
79.14%
HOLDING POST-ISSUE
56.82%
BOOK-RUNNING LEAD MANAGERS
3 APPOINTED
Holani Consultants Pvt.Ltd., Shannon Advisors Pvt.Ltd., Dolat Finserv Pvt.Ltd.
REGISTRAR TO THE ISSUE
NAME
Bigshare Services Pvt.Ltd.
PHONE
8657578989/8069219065/8069219060
THE COMPANY
PHONE
9910791501
REGISTERED OFFICE
RZ 128-129A, Mahipalpur Extension, NH-8, Delhi, New Delhi, 110037
DETAILS AS PUBLISHED FOR THIS ISSUE · ALLOTMENT IS HANDLED BY THE REGISTRAR, NOT BY BUYUNLISTEDSHARES · WE NEVER ASK FOR PAN OR APPLICATION DETAILS
THE ENQUIRY DESK · QUESTIONS

COMMON QUESTIONS.

What is the Skyways Air IPO price band?+

The indicative price band is ₹138 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).

What is the lot size of the Skyways Air IPO?+

One lot is 100 shares. At the upper band of ₹138, one lot works out to ₹13,800.

How many lots can a retail investor apply for in the Skyways Air IPO?+

A retail application runs from 1 lot (100 shares, ₹13,800) up to 14 lots (1,400 shares, ₹1,93,200) — the most that fits under SEBI's ₹2 lakh retail ceiling.

What is the minimum HNI application in the Skyways Air IPO?+

A small-HNI (sHNI) application starts at 15 lots — 1,500 shares, ₹2,07,000. A big-HNI (bHNI) application starts at 73 lots — 7,300 shares, ₹10,07,400, above the ₹10 lakh boundary.

When does the Skyways Air IPO open and close?+

The issue opened on 24 Aug 2026 and closed on 27 Aug 2026. Dates can move — the registrar and the exchange notices are the record.

When is the Skyways Air IPO allotment?+

Allotment is scheduled for 28 Aug 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.

When did Skyways Air list?+

Listing took place on 01 Sept 2026 on NSE, BSE.

Where will Skyways Air be listed?+

Skyways Air is listed on NSE, BSE. It is a mainboard issue.

How large is the Skyways Air IPO?+

The issue size is ₹582.80 Cr — a fresh issue of ₹398.8 cr and an offer for sale of ₹184 cr. Figures are indicative and subject to the RHP.

What is the difference between the fresh issue and the offer for sale in the Skyways Air IPO?+

Money raised through the fresh issue goes to the company, which spends it on the purposes set out in the offer document. Money raised through the offer for sale goes to the shareholders who are selling, not to the company. That is a fact about how the issue is structured, not a view on it.

How was the Skyways Air IPO subscribed?+

The issue was subscribed 71.25× overall. By category: qib 139.69×, nii 87.24×, small hni 79.04×, big hni 91.33×, retail 25.4×. Subscription figures are as reported by the exchanges.

At what price did Skyways Air list?+

Skyways Air listed at ₹124, -10.14% against the issue price.

Who is the registrar for the Skyways Air IPO?+

The registrar to the issue is Bigshare Services Pvt.Ltd. (8657578989/8069219065/8069219060), ipo@bigshareonline.com.

Where can I check the Skyways Air IPO allotment status?+

Allotment status is published by the registrar on its own official portal: https://ipo.bigshareonline.com/IPO_Status.html. Use the registrar's site directly — BuyUnlistedShares does not ask for PAN, application numbers or any other applicant detail.

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PRE-IPO STOCK ONLY · WE DO NOT ACCEPT IPO APPLICATIONS
Dates, price band, lot size, issue size and subscription figures are indicative and subject to the official Red Herring Prospectus (RHP). Application amounts shown in the fare table are arithmetic on the lot size and the upper band against SEBI's category thresholds — they are not an application facility and we do not accept IPO applications. GMP is unofficial grey-market chatter that changes daily — not a target, not a quote and not a recommendation. This page is information only: it is not an offer to deal and not investment advice. BuyUnlistedShares provides information and research, not buy/sell recommendations. All IPOs carry market risk — read the RHP and assess suitability before applying.
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TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,400 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,985 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹82 · ZEPTO ₹33 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,400 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,985 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹82 · ZEPTO ₹33 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —