IPO
Air freight forwarder Skyways’ Rs 583-Cr IPO subscribed 26 times
The initial public offering of New Delhi-based Skyways Air Services has been subscribed over 26 times with the retail portion booked nearly 20 times, and the segment reserved for non-institutional investors (NIIs) subscribed nearly 61 times. The qualified institutional buyers' (QIBs) segment was booked 11.5 times.The IPO comprises a fresh issue of 28,898,300 shares to raise INR 398.8-Cr and an offer for sale of 13,333,300 shares for INR 184-Cr. The issue price band is set at INR 131 to INR 138 per share.Skyways Air Services operates in the air freight forwarding and logistics sector, offering services such as ocean freight, trucking, warehousing, custom broking, and technology-driven cargo delivery. The company plans to use the proceeds from the fresh issue to pay down borrowings, fund incremental working capital requirements, and support general corporate purposes.
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