<p data-path-to-node="3"><b data-path-to-node="3" data-index-in-node="0">NEW DELHI / MUMBAI — Air Logistics and Consolidation Major Initiates Mainboard Bidding on BSE and NSE Following Marquee Institutional Participation in Anchor Placement</b></p><p data-path-to-node="4">Integrated airfreight forwarding and multimodal logistics leader Skyways Air Services Limited (SASL) has officially opened its <b data-path-to-node="4" data-index-in-node="127">₹582.80-crore Initial Public Offering (IPO)</b> for public subscription today, August 24, 2026. The mainboard public issue, structured across a fixed price band of <b data-path-to-node="4" data-index-in-node="287">₹131 to ₹138 per equity share</b> (face value ₹10), will remain open for investor bidding through Thursday, August 27, 2026.</p><p data-path-to-node="5" id="p-rc_b1f26e2a558ba44e-241"><span data-path-to-node="5,0">The opening follows the successful finalization of the company’s anchor investor tranche, which raised <b data-path-to-node="5,0" data-index-in-node="103">₹174.54 crore</b> by allocating 1,26,48,000 equity shares to prominent international and domestic institutions at the upper ceiling of ₹138 per share</span><span data-path-to-node="5,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="5,2">. The anchor book drew significant participation from global financial institutions including <b data-path-to-node="5,2" data-index-in-node="94">Nomura Singapore, Citi Group Global Markets Mauritius, and ASAS Global Fund</b>, alongside domestic institutional backing from <b data-path-to-node="5,2" data-index-in-node="217">IndusInd General Insurance, Bank of India Mutual Fund, Taurus Mutual Fund, and Holani Venture Capital Fund-I</b></span><span data-path-to-node="5,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="5,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p><p data-path-to-node="7"><b data-path-to-node="7" data-index-in-node="0">Capital Mobilisation Architecture and Issue Structure</b></p><p data-path-to-node="8">The 100% book-built initial public offering balances growth-driven primary equity issuance with secondary divestment:</p><ul data-path-to-node="9"><li><p data-path-to-node="9,0,0"><b data-path-to-node="9,0,0" data-index-in-node="0">Total Issue Size:</b> Up to ₹582.80 crore aggregating 4,22,31,600 equity shares.</p></li><li><p data-path-to-node="9,1,0" id="p-rc_b1f26e2a558ba44e-242"><span data-path-to-node="9,1,0,0"><b data-path-to-node="9,1,0,0" data-index-in-node="0">Fresh Equity Issue:</b> 2,88,98,300 equity shares (aggregating up to <b data-path-to-node="9,1,0,0" data-index-in-node="65">₹398.80 crore</b>)</span><span data-path-to-node="9,1,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="9,1,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="9,2,0" id="p-rc_b1f26e2a558ba44e-243"><span data-path-to-node="9,2,0,0"><b data-path-to-node="9,2,0,0" data-index-in-node="0">Offer for Sale (OFS):</b> 1,33,33,300 equity shares (aggregating up to <b data-path-to-node="9,2,0,0" data-index-in-node="67">₹184.00 crore</b>) offloaded by promoter entities and existing selling shareholders</span><span data-path-to-node="9,2,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="9,2,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="9,3,0"><b data-path-to-node="9,3,0" data-index-in-node="0">Bidding Lot Size:</b> 100 equity shares per lot (requiring a minimum retail application threshold of ₹13,800 at the upper band).</p></li><li><p data-path-to-node="9,4,0"><b data-path-to-node="9,4,0" data-index-in-node="0">Key Intermediaries:</b> Holani Consultants, Shannon Advisors, and Dolat Finserv are acting as Book Running Lead Managers, with Bigshare Services Private Limited appointed as the Registrar.</p></li><li><p data-path-to-node="9,5,0" id="p-rc_b1f26e2a558ba44e-244"><span data-path-to-node="9,5,0,0"><b data-path-to-node="9,5,0,0" data-index-in-node="0">Listing Roadmap:</b> The basis of share allotment is slated for finalization on August 28, with tentative secondary market listing scheduled on both the National Stock Exchange (NSE) and BSE on <b data-path-to-node="9,5,0,0" data-index-in-node="190">September 1, 2026</b></span><span data-path-to-node="9,5,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="9,5,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="11"><b data-path-to-node="11" data-index-in-node="0">Targeted Allocation of Fresh Issue Capital</b></p><p data-path-to-node="12" id="p-rc_b1f26e2a558ba44e-245"><span data-path-to-node="12,0">According to statutory Red Herring Prospectus (RHP) filings, the net fresh issue proceeds of ₹398.80 crore are earmarked for strategic balance sheet de-leveraging and asset expansion</span><span data-path-to-node="12,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="12,2">:</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p><ol start="1" data-path-to-node="13"><li><p data-path-to-node="13,0,0" id="p-rc_b1f26e2a558ba44e-246"><span data-path-to-node="13,0,0,0"><b data-path-to-node="13,0,0,0" data-index-in-node="0">Debt Repayment and De-leveraging (₹216.79 Crore):</b> Dedicated toward the full or partial prepayment and retirement of high-interest credit lines and working capital borrowings availed by SASL and its core operating subsidiary, <b data-path-to-node="13,0,0,0" data-index-in-node="225">Forin Container Line Private Limited</b>, substantially reducing annualized finance costs</span><span data-path-to-node="13,0,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="13,0,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="13,1,0" id="p-rc_b1f26e2a558ba44e-247"><span data-path-to-node="13,1,0,0"><b data-path-to-node="13,1,0,0" data-index-in-node="0">Working Capital Augmentation (₹130.00 Crore):</b> Allocated to fund expanding day-to-day liquidity requirements, enabling the company to lock down long-term <b data-path-to-node="13,1,0,0" data-index-in-node="153">Block Space Agreements (BSAs)</b> across major international scheduled airlines and expand credit lines for high-volume corporate EXIM clients</span><span data-path-to-node="13,1,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="13,1,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="13,2,0" id="p-rc_b1f26e2a558ba44e-248"><span data-path-to-node="13,2,0,0"><b data-path-to-node="13,2,0,0" data-index-in-node="0">Infrastructure &amp; Digital Enhancements:</b> The residual capital will support the expansion of specialized temperature-controlled airfreight staging stations at Tier-1 airports, modern cold-chain consolidation facilities, and proprietary freight-booking management platforms</span><span data-path-to-node="13,2,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="13,2,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p></li></ol><p data-path-to-node="15"><b data-path-to-node="15" data-index-in-node="0">Operational Footprint and Financial Trajectory</b></p><p data-path-to-node="16" id="p-rc_b1f26e2a558ba44e-249"><span data-path-to-node="16,0">Established in December 1984 as a customs clearance agent, Skyways Air Services has evolved over four decades into one of India’s premier air freight consolidators, consistently ranking among the top forwarders by Air Waybills (AWBs) generated</span><span data-path-to-node="16,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="16,2">. The company provides a comprehensive suite of multimodal solutions, including wholesale airfreight forwarding, ocean container consolidation (NVOCC), bonded warehousing, cross-border express handling, and surface transportation networks</span><span data-path-to-node="16,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="16,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p><p data-path-to-node="17" id="p-rc_b1f26e2a558ba44e-250"><span data-path-to-node="17,0">In FY26, Skyways Air Services reported consolidated revenue from operations of <b data-path-to-node="17,0" data-index-in-node="79">₹2,812.89 crore</b> (up from ₹1,289.11 crore in FY24), delivering an operating EBITDA of <b data-path-to-node="17,0" data-index-in-node="164">₹125.65 crore</b> and a Profit After Tax (PAT) of <b data-path-to-node="17,0" data-index-in-node="210">₹63.52 crore</b></span><span data-path-to-node="17,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c647173997=""><!----></sources-carousel-inline></p><p data-path-to-node="18" id="p-rc_b1f26e2a558ba44e-251"><span data-path-to-node="18,0">Market analysts emphasize that the public issue arrives at a critical juncture for subcontinental trade logistics. With heightened maritime disruptions and global supply chain realignments steering high-value electronics, pharmaceuticals, and automotive components toward expedited air corridors, SASL’s strengthened capital base positions the forwarder to secure guaranteed international airlift capacity ahead of the fourth-quarter peak shipping season</span><span data-path-to-node="18,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1580951906="" class="ng-star-inserted"><sup _ngcontent-ng-c1580951906="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="18,2">.</span></p>