Skyways Air Services' ₹583 crore IPO to open on Aug 24; price band fixed at ₹131-138

Skyways Air Services Ltd, an air freight forwarding and logistics company, plans to launch its ₹583 crore Initial Public Offering (IPO) on August 24. The price band has been set at ₹131-138 per share, valuing the company between ₹1,904 crore and ₹2,006 crore. The IPO comprises a fresh issue of 2.89 crore equity shares and an Offer For Sale (OFS) of 1.33 crore shares, with the initial share sale concluding on August 27.

Proceeds from the issue will be used for debt payment, working capital requirements, and general corporate purposes. The shares are expected to list on stock exchanges around September 1, with 50% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.

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