Skyways Air Services, a key player in India’s cargo sector, is set to raise ₹583 crore through its upcoming IPO, spotlighting its expanding air freight business and strategic debt reduction plans.
Skyways Air Services is moving ahead with a stock market debut that could value the Mumbai-based logistics group at the centre of India’s fast-growing cargo ecosystem. The company plans to open its initial public offering on 24 August and close it on 27 August, with shares priced at ₹131 to ₹138 each and a minimum application size of 100 shares. The issue is sized at ₹583 crore and combines a fresh share sale with an offer-for-sale by existing shareholders, including promoters Yashpal Sharma and Tarun Sharma.
The fresh portion of the fundraise, worth ₹216.78 crore, is intended mainly to reduce debt at the company and at its subsidiary, Forin Container Line Private Limited. Skyways also plans to direct ₹130 crore towards working capital, with the balance set aside for general corporate needs. The capital raise comes as the company highlights a long operating history: it was founded in 1984 and now offers air and ocean freight forwarding, road transport, warehousing, customs broking and express cargo services.
Investor attention is likely to focus on Skyways’ rapid financial growth and its position in air freight. The company says World ACD ranked it India’s top air freight forwarder for four straight calendar years from 2022 to 2025, based on airway bill generation. Its revenue from operations climbed to ₹2,812.9 crore in FY26 from ₹1,289.1 crore in FY24, while net profit increased to ₹63.5 crore from ₹34.49 crore over the same period. Skyways also says it has performance-based arrangements with airlines including Air India Cargo, Emirates, Lufthansa, Saudi Cargo and Qatar Airways. Holani Consultants, Shannon Advisors and Dolat Finserv are managing the offer, and the shares are planned for listing on both the NSE and BSE.
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