Skyways Air Services, a Delhi-based air freight forwarding and logistics company, has received the Securities and Exchange Board of India (SEBI) nod for an Initial Public Offering (IPO). The fresh issue component will consist of 3.29 crore equity shares with a face value of ₹10 each. Concurrently, the offer for sale (OFS) will see existing shareholders, including the promoters, offload 1.33 crore shares.

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Skyways Air Services receives SEBI’s nod for IPO

Proceeds will repay ₹216.78 crore in borrowings, allocate ₹130 crore for working capital, and fund general corporate purposes.