Can Skyways Air Services IPO deliver growth for investors?

ET Intelligence Group: Skyways Air Services, a logistics company, plans to raise ₹399 crore through a fresh issue to repay debt and fund working capital requirements. It will also raise ₹184 crore through an offer for sale. The promoter group's stake will fall to 56.8% after the IPO from 79.1%. It is a multi-modal logistics provider offering end-to-end supply chain solutions across air and ocean freight forwarding. More than three-fourth of the revenue comes from air freight services. It has heavy dependency on cross-border trade making business susceptible to global economic slowdown, trade policy shifts, and currency volatility. However, it has been No. 1 Air Freight Forwarder since the past four calendar years. Given these factors, the issue is suitable for long-term investors with high risk-tolerance.