Skyways Air Services IPO

About Skyways Air Services IPO

Skyways Air Services IPO comprises a fresh issue and an offer sale. The fresh issue comprises up to 2,88,98,300 equity shares and an offer for sale of up to 1,33,33,300 equity shares. The price band is ₹[TBA] per share.

The IPO of Skyways Air Services opens on March 18, 2026 and closes on March 20, 2026. The allotment of shares will take place on March 23, 2026. The credit of shares to the Demat account will take place on March 24, 2026. The initiation of refunds will take place on March 24, 2026. The listing of shares will take place on March 25, 2026.

The lot size of shares in the IPO is [TBA]. The minimum number of lots in the IPO for retail investors is [TBA]. The minimum investment amount required by a retail investor is ₹[TBA] based on the upper price. The minimum lot for retail investors is [TBA].

Established in 1984, Skyways Air Services, is a long-standing participant of India’s air freight forwarding and logistics sector. The company is consistently ranked No. 1 “Air Freight Forwarder” in terms of AWBs generation by World ACD for the last four calendar years 2025, 2024, 2023 and 2022.

Objectives of Skyways Air Services IPO

The company proposes to utilise the proceeds received from the IPO for:

• Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the company and its subsidiary “Forin Container Line”

• Funding incremental working capital requirements

• General corporate purposes

Industry Outlook

The Indian logistics sector is among the largest in the world, offering significant opportunities for growth. This sector is an integral part of the national GDP value chain, as it connects various components of the economy and encompasses transportation, warehousing, and other supply chain solutions for both suppliers and end customers.

An efficient logistics industry is a critical component as it secures better market access for goods and services, and boosts consumption growth. Acknowledging the need to strengthen logistics infrastructure, the sector has attracted the attention of government and even private participants.

The Indian logistics market has experienced robust growth over the past few years, with its market value reaching USD 215 billion in 2021. Driven by rapid industrialisation, urbanisation, and the expansion of e-commerce, the sector was projected to grow at a steady pace, reaching approximately USD 335 billion by 2025 at a compound annual growth rate (CAGR) of 11.72%.

About Skyways Air Services

Skyways Air Services was established in 1984, Skyways Air Services, is a long-standing participant of India’s air freight forwarding and logistics sector. The company is consistently ranked No. 1 “Air Freight

Forwarder” in terms of AWBs generated by World ACD for the last four calendar years 2025, 2024, 2023 and 2022. It meant the company handled the maximum number of air cargo consignments from India to worldwide.

The company is actively engaged in providing a comprehensive suite of services, including air freight forwarding, ocean freight forwarding, trucking, warehousing, custom broking, technology driven express cargo and parcel delivery and a wide range of value-added services (VAS) to support the diverse needs of its clientele across domestic and international markets.

Strengths of Skyways Air Services

• Experienced promoters

• Comprehensive range of logistics solutions

• Broad network of partners that enhances reach

• Strong collaborations with a diverse and wide-ranging customer base

• Information technology and infrastructure driving operational effectiveness

• Long-standing business relationships with clientele

Risks of Skyways Air Services

• Dependence on carriers for cargo transportation exposes to risks related to capacity availability, cost fluctuations, and service disruptions

• Geopolitical tensions, conflicts, and global instability may adversely affect business and operations

• Any adverse developments affecting trade volumes and freight rates may have an adverse effect on business, results of operations, and financial condition

• Failure to maintain good business relations and continued arrangements with suppliers may adversely affect results of operations

• Geographical concentration of revenues

• Inability to access adequate working capital loans on commercially reasonable terms may adversely affect business

• Any downgrade of credit ratings could increase borrowing costs and constrain the company's access to capital and lending markets

• Sustained negative cash flow could adversely impact business, financial condition and growth

• Inability to collect receivables from clients could adversely affect results of operations and cash flows

• The agreements governing the company’s indebtedness contain conditions and restrictions on its operations, additional financing, and capital structure

Anchor Investor Bidding Date

Anchor portion of the IPO opens for bidding on March 17, 2026.

IPO Registrar and Book Running Lead Managers

IPO Registrar: Bigshare Services

Book Running Lead Managers: Holani Consultants, Shannon Advisors and Dolat Finserv

Business Model

Skyways Air Services is actively engaged in providing a comprehensive suite of services, including air freight forwarding, ocean freight forwarding, trucking, warehousing, custom broking, technology driven express cargo and parcel delivery and a wide range of value-added services (VAS) to support the diverse needs of its clientele across domestic and international markets.

Company Growth Trajectory

The revenue from operations of Skyways Air Services increased from ₹1484.1231 crores in FY 23 to ₹2247.8249 crores in FY 25. The number of customers served increased from 5866 in FY 23 to 7721 in FY 25. A comprehensive range of logistics solutions and a broad network of partners have helped the company grow over the years.

Market Position

Skyways Air Services was established in 1984. It maintains strategic alliances with a diverse range of international air freight carriers, enabling enhanced service capabilities and global reach. It has performance-based agreements with several leading global airlines, including Saudi Cargo, Air India Cargo, Turkish airlines and Lufthansa.

The company maintains active affiliations with several globally recognised logistics and freight forwarding networks, including 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).

How to Apply for Skyways Air Services IPO?

To apply for Skyways Air Services IPO:

• Log in to your Kotak Neo Demat account - Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.

• Specify IPO details - Enter the number of lots and the price you wish to apply for.

• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.

• Mandate Notification - Your UPI app will receive a mandate notification to block funds.

• Approve Request- Your funds will be blocked once you approve the mandate request on your UPI.