Skyways Air, Symbiotec Pharmalab IPOs Day 3: Cross 4x subscription

Two mainboard IPOs Skyways Air Services and Symbiotec Pharmalab were subscribed more than four times on the final day of bidding, with a few minites left for the issues to close.

Skyways Air Services IPO was subscribed 4.87 times at 4.12 pm. The QIB portion was subscribed 0.49 times, while the NII and retail portions were booked 6.47 times and 6.67 times, respectively.

Symbiotec Pharmalab IPO was subscribed 5 times at 4.15 pm. QIBs subscribed 0.59 times, NIIs 11.23 times and retail investors 4.85 times. The employee portion was subscribed 5.67 times.

Skyways IPO details

Skyways Air Services 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 ₹131-138 per share.

The company raised ₹174.5 crore from anchor investors.

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

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

Symbiotec IPO details

Symbiotec Pharmalab IPO comprises a fresh issue of shares worth up to ₹150 crore and an offer-for-sale component amounting to ₹1,607 crore. The IPO price band has been fixed at ₹938-988 per equity share, valuing the company at around ₹6,350 crore at the upper limit.

The company mobilised ₹526 crore from anchor investors.

As part of the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund III will offload shares.

Proceeds from the fresh issue will be used for debt payment and general corporate purposes.

The Indore-based Symbiotec is a research and development-driven pharmaceutical and biotechnology company with capabilities across organic chemistry, biotechnology and complex injectables.

Shares are proposed to be listed on both the BSE and NSE on September 1.

Published on August 26, 2026