India’s top air freight forwarder files DRHP with SEBI for ₹462 Cr IPO targeting debt reduction and expansion.
Skyways Air Services, has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise approximately ₹462 crore through an Initial Public Offering. The IPO comprises a fresh issue of about 3.29 crore equity shares and an offer-for-sale (OFS) of approximately 1.33 crore shares by existing shareholders, including key promoters and directors.
Proceeds from the fresh issue will be allocated primarily toward repaying outstanding debt, especially for Skyways and its Forin Container Line subsidiary, and shoring up working capital needs, with ₹216.8 crore earmarked for debt repayment and ₹130 crore designated for operational liquidity. The remaining funds will address general corporate purposes.
Founded in 1984, Skyways has evolved from a customs broker into a multi-modal logistics provider, consistently ranking No. 1 in air freight forwarding via Air Waybill volumes. The shares are proposed to list on both NSE and BSE, marking a major milestone for the firm’s financial strengthening and growth strategy.
Source: ET, Business Standard
