Home / Business and Economy / Skyways IPO Surges: Grey Market Hints at ₹175 Listing
Skyways IPO Surges: Grey Market Hints at ₹175 Listing
1 Sep
Summary
- Skyways IPO saw 71.25 times subscription, indicating high investor interest.
- Grey market premium suggests shares may list at ₹175, a ₹37 increase.
- The logistics firm plans to use proceeds for debt repayment and working capital.
The Skyways Air Services IPO has garnered substantial investor interest, closing with an impressive subscription rate of 71.25 times. The allotment process has been finalized, and the company is slated to make its market debut on September 1.
Anticipation is high as Skyways Air shares are reportedly trading at a premium of ₹37 in the grey market. This unofficial trading indicates a potential listing price of approximately ₹175 per share, a significant increase from the IPO's upper price band of ₹138.
The issue attracted strong demand across all investor categories. Qualified institutional buyers showed immense interest, subscribing their portion 140 times. Non-institutional investors followed with an 87-fold subscription, while the retail portion saw a 25.40 times subscription.
Skyways Air Services, a logistics company with over four decades of experience, aims to strengthen its financial position with the IPO proceeds. The funds raised through the fresh issue will be allocated towards repaying specific borrowings, meeting incremental working capital needs, and for general corporate purposes.
The company has evolved from a custom broker to a comprehensive logistics provider, offering end-to-end supply chain support. This strategic expansion, backed by a well-integrated infrastructure, positions Skyways for future growth in the dynamic international trade landscape.
