Now Reading: Skyways Air Services raises Rs 174.5 crore from anchor investors ahead of IPO
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Skyways Air Services raises Rs 174.5 crore from anchor investors ahead of IPO
Skyways Air Services raises Rs 174.5 crore from anchor investors ahead of IPO
Logistics firm Skyways Air Services Ltd has raised Rs 174.5 crore from anchor investors ahead of its initial public offering, which opens for subscription on August 24. The company allocated 1.26 crore…
Logistics firm Skyways Air Services Ltd has raised Rs 174.5 crore from anchor investors ahead of its initial public offering, which opens for subscription on August 24. The company allocated 1.26 crore equity shares at Rs 138 apiece, the upper end of its price band.
Anchor investors include Nomura Singapore, Citigroup Global Markets Mauritius, Holani Venture Capital Fund-I, IndusInd General Insurance, ASAS Global Fund, Bank of India Mutual Fund, and Taurus Mutual Fund.
The IPO comprises a fresh issue of up to 2.89 crore shares and an offer-for-sale of up to 1.33 crore shares. The price band is Rs 131-138 per share. The issue closes on August 27. Proceeds will be used for debt repayment, working capital, and general corporate purposes.
Indian Opinion Analysis
Skyways enters a crowded logistics IPO pipeline where valuation discipline is key. The company's ability to sustain anchor-level demand through the three-day subscription window will signal institutional confidence. Use of proceeds for debt repayment (a common feature in logistics IPOs) reduces leverage cost by an estimated Rs 8-10 crore annually at current rates, materially improving net margins. The retail portion, typically 35%, opens on August 25. Watch the final subscription multiple on August 27 to gauge market appetite for mid-cap logistics: a 5x-plus retail oversubscription often triggers strong listing gains in this segment.
Source: freepressjournal.in
This story was synthesised by AI from the source linked above.
