Skyways Air Services Raises ₹174.5 Crore From Anchor Investors Ahead Of IPO

New Delhi, Aug 21: Air freight forwarding and logistics firm Skyways Air Services Ltd on Friday raised Rs 174.5 crore from anchor investors ahead of its initial public offering (IPO), which opens for subscription on August 24.

The company allocated 1.26 crore equity shares to anchor investors at Rs 138 apiece, the upper end of its price band, according to a circular uploaded on the BSE website.

Anchor investor participation

Nomura Singapore, Citi Group Global Markets Mauritius, Holani Venture Capital Fund-I, IndusInd General Insurance and ASAS Global Fund were among the investors participating in the anchor round.

Additionally, shares were allocated to Bank of India Mutual Fund and Taurus Mutual Fund.

IPO details and utilisation

The IPO comprises a fresh issue of up to 2.89 crore shares and an offer-for-sale of up to 1.33 crore shares by promoters and existing shareholders.

The price band has been fixed at Rs 131-138 per share. The issue will close on August 27.

Proceeds from the fresh issue will be used for repayment or prepayment of borrowings, funding incremental working capital requirements and general corporate purposes.

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Company operations

Incorporated in 1984, Skyways Air Services operates in air and ocean freight forwarding, trucking, warehousing, customs broking, and express cargo and parcel delivery.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)