SASkyways Air Services544890Strategic exit plan

Board approves disinvestment of 40% of holding in subsidiary Avito Global Freight for Rs. 92.12 Lakhs

Skyways Air Services' board approved disinvesting 40% of its holding in wholly owned subsidiary Avito Global Freight to its Core Operating Team for Rs. 92.12 Lakhs.

By ScoutQuest · Thu 15 Oct 2026, 9:32 PM IST · 3 min read

Disinvestment Consideration

Rs. 92.12 Lakhs for 400000 shares, 40.00% of paid-up equity share capital

Stake Retained Post Transaction

60% of paid-up equity share capital; Avito ceases to be wholly owned, remains a subsidiary

Related Board Approvals

Investment up to Rs. 2 crore; Abu Dhabi subsidiary up to Rs. 7.00 Crores; corporate guarantee INR 11.00 Crore approx.

Board approves a set of proposals on its freight subsidiary

The board of directors met on 15 October 2026 and approved proposals covering a partial stake sale in its wholly owned freight subsidiary, fresh investment into that subsidiary, a new overseas step-down subsidiary, and a corporate guarantee for a Vietnam-based subsidiary.

Partial exit from Avito Global Freight

• The board approved a proposal for disinvestment of 40.00% of the company's existing shareholding in its wholly owned subsidiary, Avito Global Freight Private Limited, by transferring the equity shares to the Core Operating Team of Avito Global Freight Private Limited.
• The total consideration for this transfer is Rs. 92.12 Lakhs, covering 400000 shares, which is 40.00% of the subsidiary's paid-up equity share capital.
• Following the proposed transaction, Avito Global Freight will cease to be a wholly owned subsidiary but will continue to remain a subsidiary, with the company retaining 60% of its paid-up equity share capital.
• The company describes the dilution as part of a strategic expansion, carried out by transferring the shares to the Core Operating Team.

Who is buying the shares

• The buyers are members of Avito's Core Operating Team. Their designations include Managing Director, Whole Time Director and Chief Executive Officer, Whole Time Director and Chief Financial Officer, and Vice President roles in operations, sales and marketing, air freight and ocean freight.
• These buyers do not belong to the promoter, promoter group or group companies, and the transaction is stated not to be a related party transaction.

Size of the subsidiary being part-sold

• Avito Global Freight Private Limited's net worth was 97.68 lakhs, as on March 31, 2026.

Further investment into the subsidiary

• The company and the Core Operating Team of Avito Global Freight Private Limited will invest in Avito Global Freight Private Limited an aggregate amount not exceeding Rs. 2 crore (Rupees Two Crore only), in one or more tranches.

A new Abu Dhabi subsidiary

• The board approved the incorporation of a wholly owned subsidiary of Avito Global Freight Private Limited in Masdar City Free Zone, Abu Dhabi, United Arab Emirates, which would become a step-down subsidiary of the company.
• The proposed entity belongs to the logistics industry. The stated intent is to expand Avito Global Freight's business operations, facilitate its presence in international markets and enable it to explore additional business opportunities.
• The nature of consideration is cash, and the cost of subscription is up to Rs. 7.00 Crores, in one or more tranches. The new entity would be a wholly owned subsidiary of Avito Global Freight Private Limited.
• The proposed incorporation and investment are subject to obtaining the necessary approvals and to complying with the applicable Indian and overseas statutory and regulatory requirements, including the applicable foreign exchange and overseas investment framework.

Corporate guarantee for the Vietnam subsidiary

• The board approved providing a corporate guarantee to Techcombank on behalf of Skyways SLS Logistik Company Limited (Vietnam), a subsidiary of the company, for an amount not exceeding the equivalent of INR 11.00 Crore approx., for the issuance of a bank guarantee to the International Air Transport Association (IATA).
• The stated impact of this guarantee on the company is a contingent liability to the extent of the corporate guarantee provided.

How a retail investor could read this

• This is a part-sale, not a full exit: the company keeps a majority 60% stake in Avito Global Freight Private Limited, which remains a subsidiary but will no longer be wholly owned.
• The buyers are the subsidiary's own operating leadership, and the company states they are not from the promoter group.
• The Abu Dhabi step-down subsidiary and the related investment are subject to approvals, so they are proposals in process rather than completed steps.
• The corporate guarantee is a commitment given on behalf of a subsidiary, and the update itself notes it as a contingent liability to the extent of the guarantee.

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