News

Yashpal Sharma plans IPO for Skyways Air Services

 

Skyways Air Services, a 40-year legacy Indian air cargo services company, is planning an initial public offering (IPO) of 4.62 crore shares with a face value of Rs 10 each.

The company, promoted by Yashpal Sharma and Tarun Sharma, reported revenue from operations of Rs 1,637 crore for the nine months ended December 31, 2024 with a net profit of Rs 36.83 crore. For the year ended March 31, 2024 revenue from operations was Rs 1,484 crore with net profit of Rs 34.49 crore.

The issue includes fresh issue of 3.29 crore shares and offer for sale of 1.33 crore shares. While Yashpal Sharma will be selling 71.2 lakh shares in the IPO, Tarun Sharma will sell 24.6 lakh shares. Other major selling shareholders include Himanshu Chhabra (18.66 lakh shares) and Rohit Sehgal (18.86 lakh shares), according to the draft red herring prospectus (DRHP) filed with the Securities Exchange Board of India (Sebi).

 

Source: Itln