Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Skyways Air IPO
Price Band
₹131.0–138.0
Issue Size
₹582.8 Cr
Lot Size
100 shares
Min Investment
₹13,800
GMP
+₹32.0 (23.19%)
Issue Price
₹138.0
Subject to Sauda
₹2400
Paid only if allotted
Skyways Air IPO AI Summary
- Skyways Air IPO is listed on BSE, NSE in the Logistics Solution Provider sector.
- Price band: ₹131.0–₹138.0 per share, lot size 100 shares (min. investment ₹13,800).
- Subscription window: 24 Aug–27 Aug 2026, listing on 01 Sep 2026.
- Current GMP is +₹32.0 (23.19%), an estimated listing price of ₹170 — unofficial and can change daily.
Skyways Air Services Limited is a well-established logistics provider in India, with a strong growth trajectory in revenue and profitability. The IPO is significantly oversubscribed, reflecting robust investor interest. Investors should consider the company's fundamentals and market conditions when making investment decisions.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Skyways Air IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 27 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
71.25x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
139.69x
|
140x 🔥 |
| NII (HNI) |
87.24x
|
87x ✓ |
| ↳ bNII (>₹10L) |
91.33x
|
91x ✓ |
| ↳ sNII (<₹10L) |
79.04x
|
79x ✓ |
| Retail (RII) |
25.40x
|
25x ✓ |
| Total | 71.25x | 71.25x |
Auto-updated every 5 min · As of 27th Aug 2026 18:56
Skyways Air IPO Grey Market Premium (GMP) Today
GMP
+₹32.0
GMP %
+23.19%
Est. Listing
₹170.0
Updated: 01 Sep 2026 10:00
GMP Trend (Last 19 Days)
About the Company
Incorporated in 1984, Skyways Air Services Limited (SASL) is a leading air freight forwarding and logistics company in India. The company provides a range of logistics solutions, including air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, and technology-driven express cargo and parcel delivery services. Skyways Air Services Limited offers value-added services such as logistics planning and management, cargo handling operations, warehousing and inventory management, documentation and customs clearance, and end-to-end distribution. The company operates a robust IT-enabled platform to support these services and maintains a strong global network through international alliances and affiliations with organizations such as the World Cargo Alliance (WCA), Air & Ocean Partners (AOP), Combined Logistics Networks (CLN), Multi Group Logistics Network (MGLN), Global Freight Alliance (GFA), and the Transport Worldwide International Group (TWIG). The company has performance-based agreements with leading international airlines, including Saudi Cargo, Air India Cargo, Turkish Airlines, and Lufthansa, ensuring strong connectivity and service coverage across major markets. Skyways Air Services Limited has evolved into a multi-modal logistics provider, offering cold storage facilities near Indira Gandhi International Airport for pharmaceuticals and temperature-sensitive cargo, and an integrated platform combining air, ocean, road, and express delivery services. As of December 31, 2024, and for the periods ending March 31, 2024, 2023, and 2022, the company and its subsidiaries had an employee base of 1,035, 950, 840, and 712, respectively.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,508.24 | 1,321.64 | 790.35 |
| Total Income | 2,839.67 | 2,270.99 | 1,316.81 |
| Profit After Tax | 63.52 | 48.14 | 34.49 |
| EBITDA | 125.65 | 86.49 | 48.34 |
| NET Worth | 332.64 | 247.14 | 154.26 |
| Total Borrowing | 624.06 | 558.43 | 357.34 |
Key Ratios
EPS
₹5.46
NAV
₹23.40
ROE
19.52%
ROCE
14.61%
RoNW
15.85%
P/B Value
5.90
P/E Ratio
25.27
Market Cap
₹2005.74 Cr
PAT Margin
2.14%
Debt/Equity
1.42
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Shadowfax Technologies Ltd | 34.04 | 6.4% | 104 | 2.22 | 2.18 |
| Mahindra Logistics Ltd | 130.57 | 0.19% | 1548 | 0.25 | 0.25 |
| Tvs Supply Chain Solutions Ltd | 46.09 | 5.62% | 54 | 2.59 | 2.59 |
| Delhivery Ltd | 129.4 | 1.58% | 260 | 2.04 | 2 |
| Skyways Air Services Ltd. This IPO | 28.91 | 12.33% | — | 3.56 | 3.56 |
Promoters
Yashpal Sharma, Tarun Sharma
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 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 2 Funding incremental working capital requirements of the Company. 130.00 3 General Corporate Purposes Total 346.79
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,316.81 Cr for the period ending 31 Mar 2024, increasing to ₹2,270.99 Cr by 31 Mar 2025, and further rising to ₹2,839.67 Cr by 31 Mar 2026. This demonstrates a consistent growth in revenue over the periods analyzed.
Profit Trend
Profit After Tax (PAT) was ₹34.49 Cr for the period ending 31 Mar 2024, which increased to ₹48.14 Cr by 31 Mar 2025, and further rose to ₹63.52 Cr by 31 Mar 2026. This indicates a positive trend in profitability across the reported periods.
Valuation
At the issue price of ₹138.0, Skyways Air Services Limited has an implied P/E ratio of 25.27 based on its earnings per share (EPS) of ₹5.46. In comparison, peers are trading at P/E ratios ranging from 54 to 1548.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO in the stock market. A positive GMP suggests that the shares are likely to list at a premium to the issue price, while a negative GMP indicates the opposite. Investors often look at GMP as a sentiment indicator before the listing.
Subscription Demand
As of 27th August 2026, the IPO was oversubscribed 71.25 times overall. The institutional category (QIB) saw a subscription of 139.69 times, while the non-institutional investors (NII) category was subscribed 87.24 times. Retail investors (RII) subscribed 25.4 times, indicating strong demand across all categories.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their risk appetite and investment goals. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors with a low risk tolerance or those seeking immediate returns may want to avoid this IPO. It's essential to evaluate the long-term prospects and stability of the company before investing.
IPO Timeline, Explained
The IPO process includes several key dates: The issue opens on 24th August 2026 and closes on 27th August 2026. Allotment of shares will be done by 28th August 2026, and the listing is expected on 1st September 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of an IPO are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock on the listing day.
This evaluation is generated from Skyways Air's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Skyways Air IPO GMP today?
Skyways Air IPO GMP today is +₹32.0 (23.19%), indicating an estimated listing price of ₹170. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Skyways Air IPO?
The price band of Skyways Air IPO is ₹131.0–₹138.0 per share.
When does Skyways Air IPO open and close?
Skyways Air IPO opens on 24 August 2026 and closes on 27 August 2026.
When does Skyways Air IPO list on the stock exchange?
Skyways Air IPO listed on 01 September 2026 at ₹170.0.
What is the lot size for Skyways Air IPO?
The lot size for Skyways Air IPO is 100 shares, requiring a minimum investment of ₹13,800.
What is the price band for the IPO?
The price band for the IPO is between ₹131.0 and ₹138.0.
What is the minimum investment required?
The minimum investment required is ₹13,800, which corresponds to a lot size of 100 shares.
When does the IPO open and close?
The IPO opens on 24th August 2026 and closes on 27th August 2026.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing price of the IPO compared to its issue price.
When is the listing date?
The listing date for the IPO is set for 1st September 2026.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Aug 2026
Close
27 Aug 2026
Allotment
28 Aug 2026
Listing
01 Sep 2026
Similar IPOs in Logistics Solution Provider
Plan Your IPO Investment
Related Articles
Full Analysis
Should you apply? Company analysis, GMP explained & FAQs
Community Sentiment
What are other investors planning for Skyways Air?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.