New Delhi, Aug. 27 -- Skyways Air Services IPO day 4: The initial public offering (IPO) of Skyways Air Services, an air freight forwarding company, is witnessing decent buying interest. The book-build issue, which opened on Monday, 24 August, and is to conclude on Thursday, 27 August, had an overall subscription of 5.08 times by the end of bidding on Wednesday, 26 August.

The Skyways Air Services IPO is a combination of a fresh issue of 2,88,98,300 shares to raise Rs.398.80 crore and an offer for sale (OFS) of 1,33,33,300 shares for Rs.184 crore. The issue price band has been fixed at Rs.131 to Rs.138 per share.

The company intends to use the net proceeds from the fresh issue of shares to pay some borrowings, to fund incremental working...