Skyways Air Services IPO
Skyways Air Services Limited (SKYWAYS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 01 September 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +12.9% (likely range +9% to +40%), day's high +25.8%, chance of a gain 92%. Actual: -10.1% at the open, -1.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 84,32,000 | 1,17,78,54,000 | 140x | |
| NII (HNI) total | 63,51,600 | 55,40,86,200 | 87.2x | |
| Big NII (above ₹10 lakh) | 42,34,400 | 38,67,45,500 | 91.3x | |
| Small NII (₹2-10 lakh) | 21,17,200 | 16,73,40,700 | 79.0x | |
| Retail | 1,48,00,000 | 37,59,70,500 | 25.4x | |
| Total | 2,95,83,600 | 2,10,79,10,700 | 71.3x |
Bids on NSE and BSE together, as published by NSE, as of 27 Aug 2026, 07:00 PM. Shares offered exclude the anchor portion. 15% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Skyways Air Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Studds AccessoriesNov 2025 | 160x | 77.0x | 22.1x | 73.3x | ₹455 Cr | -3.4% | 0.0% |
| Azad EngineeringDec 2023 | 180x | 87.6x | 23.8x | 80.7x | ₹751 Cr | +37.4% | +38.7% |
| DAM Capital AdvisorsDec 2024 | 166x | 98.6x | 27.1x | 82.1x | ₹840 Cr | +38.9% | +61.5% |
| Ecos (India) Mobility & HospitalityAug 2024 | 137x | 71.2x | 19.8x | 64.3x | ₹601 Cr | +16.8% | +36.5% |
| EMSSep 2023 | 153x | 82.3x | 29.8x | 75.3x | ₹322 Cr | +33.7% | +37.9% |
| Gandhar Oil Refinery (India)Nov 2023 | 129x | 62.2x | 28.9x | 64.1x | ₹509 Cr | +76.3% | +103.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Holani Consultants | 4 | +60.8% | 75% |
| Shannon Advisors | — | — | — |
| Dolat Finserv | — | — | — |
Offer documents (NSE)
Frequently asked
What is the Skyways Air Services IPO price band and lot size? ₹131–138 per share, with a lot of 100 shares, so the smallest retail bid is ₹13,800.
How many times has it been subscribed? 71.3x overall: QIB 140x, NII 87.2x, retail 25.4x.
How did it list? It opened at ₹124, -10.1% against the issue price of ₹138, and closed its first day -9.0%.
