Skyways Air Services, a logistics firm based in Delhi, has received approval from SEBI for its Initial Public Offering (IPO), which includes a fresh issue of 3.29 crore equity shares and an offer for sale of 1.33 crore shares from existing shareholders. The company plans to use the proceeds—₹216.78 crore for debt repayment and ₹130 crore for working capital—to strengthen its financial position. Despite a decrease in both revenue and profit for fiscal year 2024, going public is expected to enhance brand visibility and attract a larger customer base in the logistics sector.

Source: https://www.stattimes.com/air-cargo/skyways-air-services-receives-sebis-nod-for-ipo-1357057