Skyways Air Services Limited has approved the disinvestment of 40% of its equity holding in wholly owned subsidiary Avito Global Freight Private Limited. The transaction, valued at ₹92.12 lakh, involves transferring shares to the subsidiary's core operating team.

The board meeting held on October 15, 2026, also authorized the incorporation of a new wholly owned subsidiary of Avito Global Freight in the Masdar City Free Zone, Abu Dhabi, United Arab Emirates. This step-down subsidiary aims to expand international logistics operations. Additionally, the company approved providing a corporate guarantee of up to ₹11.00 crore to Techombank on behalf of its Vietnam-based subsidiary, Skyways SLS Logistik Company Limited.

Stake sale and management buy-in

The proposed dilution reduces Skyways' stake in Avito Global Freight from 100% to 60%. The buyers are members of the Core Operating Team of Avito Global Freight, including the Managing Director, CEO, CFO, and several Vice Presidents. The filing clarifies that these investors do not belong to the promoter or promoter group, and the transaction is not classified as a related party transaction.

Upon completion, Avito Global Freight will cease to be a wholly owned subsidiary but will remain a subsidiary. The board also approved that Skyways and the Core Operating Team shall invest an aggregate amount not exceeding ₹2 crore in Avito Global Freight in one or more tranches.

Buyer details for 40% stake

International expansion and guarantees

The incorporation of the UAE entity is intended to facilitate Avito Global Freight's presence in international markets. The investment in this new logistics entity is capped at ₹7.00 crore, subject to regulatory approvals under Indian and overseas foreign exchange frameworks.

Separately, the board approved a corporate guarantee for Skyways SLS Logistik Company Limited (Vietnam). The guarantee, capped at VND 30 billion (approx. ₹11.00 crore), supports the issuance of a bank guarantee to the International Air Transport Association (IATA). This creates a contingent liability for Skyways to the extent of the guarantee provided.

What the numbers show

The financial impact of the divested subsidiary on the parent company's consolidated performance appears minimal based on FY26 data. Avito Global Freight contributed only 0.02% to the group's turnover and 0.29% to net worth as of March 31, 2026. Despite this low contribution, the strategic move to sell a significant minority stake (40%) to the operating team suggests a focus on incentivizing management performance or restructuring capital allocation rather than exiting a major revenue stream.

Skyways Air Services Limited disclosed that two key promoters acquired equity shares on the open market on September 30, 2026. Tarun Sharma, Promoter and Whole-Time Director, purchased 17,000 shares, while Yashpal Sharma, Chairman and Managing Director, acquired 18,000 shares. The combined transaction value stood at approximately ₹40 lakh.

The transactions were executed on the National Stock Exchange of India Limited. These purchases represent a marginal increase in the promoter group's holding, signaling continued confidence in the company. The disclosures were made under Regulation 7(2)(b) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

Transaction details

The company submitted intimations to the stock exchanges on October 1, 2026, following the trade execution date. The values cited exclude taxes, brokerage, and other charges.

Holding pattern shift

Prior to this acquisition, Tarun Sharma held 35,558,004 equity shares, constituting 24.47% of the company's total share capital. Post-acquisition, his holding increased to 35,575,004 shares, representing 24.48%. The increase in percentage is minimal due to the large base of existing holdings relative to the small volume of newly purchased shares.

Yashpal Sharma’s holding increased from 4,70,20,758 shares (32.35%) to 4,70,38,758 shares (32.36%). Similar to Sharma’s acquisition, this represents a fractional increase in ownership percentage, reflecting a maintenance of control rather than a significant strategic stake increase.

What the numbers show

The acquisition of 17,000 shares for ₹19,50,510 implies an average price per share of approximately ₹114.74 for Tarun Sharma. For Yashpal Sharma, the purchase of 18,000 shares for ₹20,57,866 implies an average price of approximately ₹114.33. The near-identical average prices suggest both promoters executed trades at similar market levels during the same session. The combined movement indicates aligned promoter sentiment, with both directors adding to their positions simultaneously.