1 week ago
Skyways Air Services Raises ₹174.5 Crore Ahead Of IPO
Skyways Air Services is a company that helps move goods by air, sea and road.
It has collected ₹174.5 crore from large investors before offering shares to the public.
These investors received shares at ₹138 each.
The public IPO will open on August 24 and close on August 27.
The total IPO will include new shares and shares sold by existing owners.
The share price for the IPO will range from ₹131 to ₹138.
The company plans to use some of the new money to repay loans.
It will also use the money for working capital and other business needs.
Skyways Air Services raised ₹174.5 crore from anchor investors before its IPO.
The company allocated 1.26 crore equity shares at ₹138 each, the top of its price band.
Nomura Singapore, Citi Group Global Markets Mauritius and other institutional investors participated.
The IPO includes a fresh issue of up to 2.89 crore shares and an offer-for-sale of up to 1.33 crore shares.
IPO proceeds will support debt repayment, working capital and general corporate purposes.
- Who
- Skyways Air Services Ltd and participating anchor investors, including Nomura Singapore, Citi Group Global Markets Mauritius, Holani Venture Capital Fund-I, IndusInd General Insurance, ASAS Global Fund, Bank of India Mutual Fund and Taurus Mutual Fund.
- What
- Skyways Air Services raised ₹174.5 crore by allocating 1.26 crore shares to anchor investors ahead of its IPO.
- Where
- The allocation circular was uploaded on the BSE website; the company is based in New Delhi according to the article dateline.
- When
- The anchor allocation was announced on August 21; the IPO is scheduled to open on August 24 and close on August 27.
- Why
- The fresh IPO proceeds will be used for repayment or prepayment of borrowings, incremental working capital and general corporate purposes.
Key facts
- Anchor investment
- ₹174.5 crore
- Anchor shares allocated
- 1.26 crore equity shares
- Anchor allocation price
- ₹138 per share
- IPO price band
- ₹131–₹138 per share
- IPO subscription dates
- August 24 to August 27
- Fresh issue
- Up to 2.89 crore shares
- Offer-for-sale
- Up to 1.33 crore shares
- Business operations
- Air and ocean freight forwarding, trucking, warehousing, customs broking, and express cargo and parcel delivery
Sources
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