Skyways Air Services Limited IPO — Subscription & GMP
- Price band
- ₹131 – ₹138
- Lot size
- 100
- Issue size
- ₹408.25 Cr
- Bidding
- 24 Aug 2026 → 27 Aug 2026
- Allotment
- —
- Listing
- 01 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 39.1 percentage points against the buyer — it implied +28.99% and the issue listed -10.14%. Counted in our running GMP accuracy record.
Schedule
- 24 Aug 2026IPO open date
- 27 Aug 2026IPO close date
- 28 Aug 2026Allotment date†
- 28 Aug 2026Funds unblock or debit†
- 01 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsBusiness Model of Skyways Air Services Limited
Skyways Air Services Limited operates as an asset-light, multi-modal freight forwarder and logistics service provider.
- Core Offerings: The company provides end-to-end supply chain solutions, primarily focusing on air freight forwarding, which accounted for approximately 77% of its FY26 revenue, alongside ocean freight, trucking, warehousing, express cargo, and customs broking.
- Asset-Light Operations: Rather than owning aircraft or shipping lines, Skyways operates entirely on an asset-light model. It relies on a vast network of third-party carriers, securing cargo capacity through strategic, performance-based agreements with major global airlines like Air India Cargo, Emirates, and Lufthansa.
- Global Reach & Technology: The company leverages affiliations with global logistics networks (such as WCA and AOP) to expand its international footprint without incurring heavy fixed infrastructure costs. This vast operational network is supported by its proprietary digital platforms, such as SLS 100X, which provide real-time tracking, automated booking, and AI-powered analytics to a highly diversified customer base.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹3.56 | — |
| P/E ratio | 38.76× | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 45 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 754 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 84.32 L | 75.94 Cr | 90.06× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 7.26 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 49.99 Cr | — |
| 1(c)Mutual funds | — | 1.60 Cr | — |
| 1(d)Others | — | 17.09 Cr | — |
| 2Non Institutional Investors | 63.52 L | 43.51 Cr | 68.50× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 42.34 L | 31.39 Cr | 74.12× |
| 2.1(b)Individuals(Other than RIIs) | — | 29.86 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 21.17 L | 12.12 Cr | 57.27× |
| 2.2(a)Corporates | — | 6.00 L | — |
| 3Retail Individual Investors(RIIs) | 1.48 Cr | 24.10 Cr | 16.28× |
| 3(a)Cut Off | — | 20.62 Cr | — |
| 3(b)Price bids | — | 3.48 Cr | — |
| Total | 2.96 Cr | 143.55 Cr | 48.52× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹131 → ₹138 · peak 211.01 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
This issue’s anchor letter was filed as a scanned image with no text layer, so the allocation table cannot be read without OCR. We link the filing rather than publish figures we cannot verify.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹398.80 Cr 68.4%
- Offer for sale
- ₹184.00 Cr 31.6%
- Total issue size
- ₹582.80 Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 1.33 Cr shares rather than a rupee amount, so it is valued here at the cap price of ₹138 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹131 – ₹138
- Lot size
- 100 shares
- Min. bid quantity
- 100
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 2.96 Cr
- Issue size
- ₹408.25 Cr
- Max bid · QIB
- 2.96 Cr
- Max bid · NII
- 2.12 Cr
Timeline & process
- Bidding opens
- 24 Aug 2026
- Bidding closes
- 27 Aug 2026
- Bidding hours
- 10.00 am to 5.00 pm
- UPI mandate cutoff
- 27 August 2026 (Upto 5.00 pm)
- Allotment
- —
- Listing
- 01 Sept 2026
Intermediaries
- Registrar
- Bigshare Services Private Limited
- Sponsor bank
- AXIS BANK
- Lead managers
- Holani Consultants Private Limited, Shannon Advisors Private Limited, Dolat Finserv Private Limited