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Skyways plans to invest up to AED 1.2mn in Dubai subsidiary's working capital
Skyways Air Services Limited said it will subscribe to additional shares in Dubai-based Skyways SLS Cargo Services LLC for up to AED 1,203,840 to fund the subsidiary's working capital.
Skyways Air Services Limited said in a regulatory disclosure to NSE and BSE that it will subscribe to 198 new shares in Skyways SLS Cargo Services LLC at a face value of AED 1,000 plus a premium of AED 5,080 per share. The subscription totals no more than AED 1,203,840, and Skyways will retain a 90% controlling stake after completion.
The funds are intended for the Dubai subsidiary's ongoing working capital needs. The transaction is classified as related-party because the subsidiary is tied to the promoters; the parent said it is being conducted on an arm's-length basis. Completion is expected in about 30 days, and no mandatory governmental or regulatory approvals were identified.
Skyways SLS Cargo Services LLC operates in integrated logistics, transportation and freight forwarding and is registered in Dubai; it was incorporated on 7 August 2021. The disclosure listed turnover of ₹25.73 crore for FY2023-24, ₹85.57 crore for FY2024-25 and ₹39.39 crore for FY2025-26. The filing was authorised by Hitesh Kumar, Company Secretary cum Compliance Officer.
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