Skyways Air Services
Demand
Strong
subscribed 5.11x overall
Grey market
+23.2%
implied listing pop
History says
+17.6%
median at this premium · middle half +11% to +27% · n=42
Latest GMP
₹32
grey-market premium
Implied pop
+23.2%
GMP over issue price
History says
+17.6%
median actual listing at this GMP (n=42)
Range of outcomes
middle half of 42 listings at this GMP
GMP trend
14 street quotes since 08/31
Final Subscription
Subscribed 5.11xoverall · last updated 2026-08-27 00:45 UTC
| Category | Shares reserved | 25-08 | 26-08 | 27-08 | |||
|---|---|---|---|---|---|---|---|
| Shares bid | Times | Shares bid | Times | Shares bid | Times | ||
| QIB | 21,080,000 | 9,907,600 | 0.47× | 10,329,200 | 0.49× | 10,329,200 | 0.49× |
| ∟QIB (Ex Anchor) | 8,432,000 | – | – | – | – | – | – |
| NII | 6,351,600 | 13,338,360 | 2.10× | 43,889,556 | 6.91× | 43,889,556 | 6.91× |
| ∟bNII (> ₹10L) | 4,234,400 | – | – | – | – | – | – |
| ∟sNII (< ₹10L) | 2,117,200 | – | – | – | – | – | – |
| Retail | 14,800,000 | 46,324,000 | 3.13× | 103,156,000 | 6.97× | 103,156,000 | 6.97× |
| Total | 42,231,600 | 90,797,940 | 2.15× | 215,803,476 | 5.11× | 215,803,476 | 5.11× |
Allotment odds (1 lot lottery once oversubscribed) — Retail: ≈ 1 in 7 applicants
Allotment Probability
Retail · subscribed 6.97x
14%
HNI / NII · subscribed 6.91x
14%
Chance of winning at least one lot per application, from the shares reserved for the category vs current demand. QIB allots pro-rata, not by lottery. Demand can spike on the final day.
📋Issue Details
| Offer Type | Bookbuilding IPO |
| Sale Type | Fresh capital cum OFS |
| Listing At | BSE, NSE |
| Face Value | ₹ 10 per share |
| Price Band | ₹131 to ₹138 |
| Lot Size | 100 shares |
| Total Issue Size | 4,22,31,600 shares (agg. up to ₹ 583 Cr) |
| Fresh Issue | 2,88,98,300 shares (agg. up to ₹ 399 Cr) |
| Offer for Sale | 1,33,33,300 shares of ₹ 10 (agg. up to ₹ 184 Cr) |
🗓️IPO Schedule
Open
Mon, Aug 24, 2026
Close
Thu, Aug 27, 2026
Allotment
Fri, Aug 28, 2026
Refunds
Mon, Aug 31, 2026
Demat credit
Mon, Aug 31, 2026
Listing
Tue, Sep 1, 2026
🏛️Pre & Post Issue Capital
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 79.14% | 56.82% |
| Public | 20.86% | 43.18% |
| Total | 100% | 100% |
💰Valuation & Market Cap
| EPS(₹) (pre → post) | 5.46 → 4.37 |
| P/E (x) (pre → post) | 25.27 → 31.58 |
| Market Cap at Offer Price | ₹2,005.74 Cr |
📊Company Financials ₹ crore
| Metric | 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 Performance Indicators
| ROE | 14.15% |
| ROCE | 18.11% |
| Debt/Equity | 1.26 |
| RoNW | 12.33% |
| PAT Margin | 2.26% |
| EBITDA Margin | 4.47% |
| NAV | 28.91 |
| Price to Book Value | 4.77 |
🤝Recently Listed PeersLogistics Solution Provider
| Company | Issue price | P/E | Listing-day close |
|---|---|---|---|
| Shiprocket Ltd. | ₹97 | -77.6 | ₹143.45 |
| Shadowfax Technologies Ltd. | ₹124 | 1017.96 | ₹109.98 |
| Om Freight Forwarders Ltd. | ₹135 | 19.56 | ₹85.57 |
| Glottis Ltd. | ₹129 | 18.38 | ₹83.70 |
| Sampark India Logistics Ltd. | ₹84 | 8.65 | ₹93.45 |
| Global Ocean Logistics India Ltd. | ₹78 | 12.07 | ₹79.29 |
| Neptune Logitek Ltd. | ₹126 | 13.76 | ₹95.80 |
| Shipwaves Online Ltd. | ₹12 | 9.3 | ₹11.40 |
Lot Size — what an application costs
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹13,800 |
| Retail (Max) | 14 | 1,400 | ₹1,93,200 |
| S-HNI (Min) | 15 | 1,500 | ₹2,07,000 |
| S-HNI (Max) | 72 | 7,200 | ₹9,93,600 |
| B-HNI (Min) | 73 | 7,300 | ₹10,07,400 |
Issue Reservation
| Category | Shares | % of issue | Max allottees |
|---|---|---|---|
| QIB | 2,10,80,000 | 49.92% | NA |
| − Anchor Investor | 1,26,48,000 | 29.95% | NA |
| − QIB (Ex. Anchor) | 84,32,000 | 19.97% | NA |
| NII (HNI) | 63,51,600 | 15.04% | NA |
| − bNII > ₹10L | 42,34,400 | 10.03% | 2,822 |
| − sNII < ₹10L | 21,17,200 | 5.01% | 1,411 |
| Retail | 1,48,00,000 | 35.04% | 1,48,000 |
| Total | 4,22,31,600 | 100.00% | – |
GMP trend
| Date | GMP ₹ | Implied |
|---|---|---|
| 2026-09-02 | 32 | +23.2% |
| 2026-09-02 | 32 | +23.2% |
| 2026-09-01 | 32 | +23.2% |
| 2026-09-01 | 32 | +23.2% |
| 2026-09-01 | 32 | +23.2% |
| 2026-09-01 | 32 | +23.2% |
| 2026-09-01 | 37 | +26.8% |
| 2026-09-01 | 37 | +26.8% |
| 2026-08-31 | 37 | +26.8% |
| 2026-08-31 | 37 | +26.8% |
| 2026-08-31 | 37 | +26.8% |
| 2026-08-31 | 37 | +26.8% |
| 2026-08-31 | 40 | +29.0% |
| 2026-08-31 | 37 | +26.8% |
🏢About Skyways Air Services
Skyways Air IPO is a book build issue of ₹582.80 crores. The issue is a combination of fresh issue of 2.89 crore shares aggregating to ₹398.80 crores and offer for sale of 1.33 crore shares aggregating to ₹184.00 crores.
Skyways Air IPO bidding opened for subscription on Aug 24, 2026 and will close on Aug 27, 2026. The allotment for the Skyways Air IPO is expected to be finalized on Aug 28, 2026. Skyways Air IPO will list on NSE and BSE with a tentative listing date fixed as Sep 1, 2026.
Skyways Air IPO is set issue price band at ₹131 to ₹138 per share. The lot size for an application is 100 shares. The minimum amount of investment required by an individual investor (retail) is ₹13,800 (100 shares) (based on upper price).
Holani Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
🎯Objects of the Issue
| Object | ₹ Cr |
|---|---|
| Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by th | 216.79 |
| Funding incremental working capital requirements of the Company. | 130.00 |
| General Corporate Purposes | – |
👥Selling Shareholders
| Name | Category | Shares offered |
|---|---|---|
| Yashpal Sharma | Promoter | 71,20,690 |
| Tarun Sharma | Promoter | 24,60,000 |
| Himanshu Chhabra | Other | 18,66,000 |
| Rohit Sehgal | Other | 18,86,610 |
| Total | 1,33,33,300 |
💼Lead Managers
- • Holani Consultants Pvt.Ltd.
- • Shannon Advisors Pvt.Ltd.
- • Dolat Finserv Pvt.Ltd.
🗳️Registrar
- • Bigshare Services Pvt.Ltd.
- allotment status is checked on the registrar's portal
🏢Registered Office
📍 RZ 128-129A,, Mahipalpur Extension, NH-8,, Delhi, New Delhi, 110037
📞 9910791501
✉️ cs@skyways-group.com
Grey-market numbers are unofficial street quotes, aggregated across sources. Not investment advice.