Hi Srikanth,
I am afraid we are not very familiar with going this route. If you come up with a Skyline report for doing it, please do post it back here. Maybe the OpenSWATH team has something, we have certainly put a lot of time into accepting OpenSWATH library and result formats, but so far left generating the transition list (a.k.a. "Assay Library") up to them.
Great opportunity for someone to write a Skyline External Tool and put it in the Tool Store:
http://skyline.ms/tools.url
This is essentially what we did with Agilent and Thermo for MPPReport and TFExport for their Mass Profiler Professional and Trace Finder software respectively.
--Brendan