About
Shipwaves Online IPO is a fixed price issue of ₹56.35 crores. The issue is entirely a fresh issue of 4.70 crore shares of ₹56.35 crore.
Shipwaves Online IPO bidding started from Dec 10, 2025 and ended on Dec 12, 2025. The allotment for Shipwaves Online IPO was finalized on Dec 15, 2025. The shares got listed on BSE SME on Dec 17, 2025.
Shipwaves Online IPO price is ₹12 per share. The lot size for an application is 10,000. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000 (20,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (30,000 shares), amounting to ₹3,60,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Anant Securities.
Refer to Shipwaves Online IPO DRHP for detailed Information.
IPO Stock Quote & Charts
IPO Open
Wed, Dec 10, 2025
IPO Close
Fri, Dec 12, 2025
Issue Price
₹12 per share
Market Cap (Pre-IPO)
₹169.79 Cr
IPO Details
| IPO Date | 10 to 12 Dec, 2025 |
| Listed on | Wed, Dec 17, 2025 |
| Face Value | ₹1 per share |
| Issue Price | ₹12 per share |
| Lot Size | 10,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 4,69,60,000 shares (agg. up to ₹56 Cr) |
| Reserved for Market Maker | 23,50,000 shares (agg. up to ₹3 Cr) Anant Securities |
| Net Offered to Public | 4,46,10,000 shares (agg. up to ₹54 Cr) |
| Share Holding Pre Issue | 9,45,35,000 shares |
| Share Holding Post Issue | 14,14,95,000 shares |
| BSE Script Code | 544646 |
| ISIN | INE0O9L01010 |
IPO Timetable
- IPO OpenWed, Dec 10, 2025
- IPO CloseFri, Dec 12, 2025
- AllotmentMon, Dec 15, 2025
- RefundTue, Dec 16, 2025
- Credit of SharesTue, Dec 16, 2025
- ListingWed, Dec 17, 2025
IPO Reservation
Shipwaves Online IPO offers total 4,69,60,000 shares. Out of which 2,23,00,000 (47.49%) allocated to
NII
2,23,10,000 (47.51%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 23,50,000 (5.00%) |
| NII (HNI) Shares Offered | 2,23,00,000 (47.49%) |
| Retail Shares Offered | 2,23,10,000 (47.51%) |
| Total Shares Offered | 4,69,60,000 (100.00%) |
IPO Lot Size
Investors can bid for a minimum of 20,000 shares and in multiples of 10,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 20,000 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 20,000 | ₹2,40,000 |
| HNI (Min) | 3 | 30,000 | ₹3,60,000 |
About Shipwaves Online Ltd.
Incorporated in 2015, Shipwaves Online Limited is engaged in the business of digital freight forwarding and enterprise SaaS solutions.
The company offers a unified platform for shipping and logistics, providing multimodal transportation solutions ocean, land, and air ensuring efficient, cost-effective, and reliable global shipment management.
Services:
Digital Freight Forwarding:Leveraging advanced technology to streamline logistics processes, providing end-to-end support for global shipments.
Enterprise SaaS Solutions:Offering software solutions that digitalize shipping and logistics, delivering real-time data insights to enhance operational efficiency.
Other Services: The company offers trade finance, insurance, warehousing, customs clearance, and relocation services for secure, efficient global logistics.
Digital Freight Forwarding:Leveraging advanced technology to streamline logistics processes, providing end-to-end support for global shipments.
Enterprise SaaS Solutions:Offering software solutions that digitalize shipping and logistics, delivering real-time data insights to enhance operational efficiency.
Other Services: The company offers trade finance, insurance, warehousing, customs clearance, and relocation services for secure, efficient global logistics.
As of the October 31, 2025, the company had 35 employees on payroll.
Competitive Strengths:
- Experienced Promoters and Qualified Management Team
- Innovative Software: Revolutionizing Logistics Solutions
- Commitment to Cost Efficiency and Excellence in Logistics
- Diverse Customer Base Across Many Sectors
- Comprehensive and Customized Third-Party Logistics Solutions
Company Financials (Restated Consolidated)
Shipwaves Online Ltd.’s revenue increased by 12% and profit after tax (PAT) rose by 94% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 98.37 | 81.86 | 53.98 | 26.43 |
| Total Income | 41.71 | 108.65 | 97.28 | 69.49 |
| Profit After Tax | 4.68 | 12.20 | 6.29 | 2.24 |
| EBITDA | 7.89 | 18.96 | 11.04 | 4.06 |
| NET Worth | 30.77 | 25.87 | 14.82 | -1.31 |
| Reserves and Surplus | 21.32 | 16.42 | 5.37 | -0.41 |
| Total Borrowing | 40.04 | 34.52 | 24.14 | 8.89 |
| Amount in ₹ Crore | ||||
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Working Capital Requirements of Issuer Company | 17.13 |
| 2 | Investment in Subsidiary for funding its working capital requirements | 10.00 |
| 3 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Issuer Company | 15.00 |
| 4 | General Corporate Expenses | 8.45 |
Key Performance Indicator (KPI)
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 50.85% |
| ROCE | 25.79% |
| Debt/Equity | 1.33 |
| RoNW | 41.89% |
| PAT Margin | 10.01% |
| EBITDA Margin | 17.51% |
| Price to Book Value | 4.38 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 1.29 | 0.66 |
| P/E (x) | 9.3 | 18.12 |
| Promoter Holding | 99.96% | 66.73% |
| Market Cap | ₹169.79 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
Shipwaves Online IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 1 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
Shipwaves Online IPO Subscription Status (Bidding Detail)
The Shipwaves Online IPO is subscribed 1.64 times on December 12, 2025 6:19:44 PM (Day 3). The public issue subscribed 2.92 times in the individual investors category, [.] times in the QIB category, and 0.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category |
Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 0.36 | 2,23,00,000 | 80,60,000 | 0 |
| Individual Investor | 2.92 | 2,23,10,000 | 6,52,20,000 | 0 |
| Total | 1.64 | 4,46,10,000 | 7,32,80,000 | 3,479 |
Total Application : 3,479
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees (including Underwriting commission) | 2.22 |
| 2 | Registrar to the issue | 0.02 |
| 3 | Legal Advisor | 0.01 |
| 4 | Peer Review Auditors | 0.02 |
| 5 | Market Maker | 0.05 |
| 6 | Sponsor Bank and Bankers to the Issue | 0.01 |
| 7 | UPI Bidding charges, Printing and distribution of Issue Stationary, other Miscellaneous expenses | 0.11 |
| 8 | Regulators Including Stock Exchanges | 0.24 |
| 9 | Advertising, Selling & Marketing Expenses | 3.09 |
Listing Day Trading Information
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹12.00 |
| Open | ₹12.00 |
| Low | ₹11.40 |
| High | ₹12.00 |
| Last Trade | ₹11.40 |
Check IPO Performance…
IPO Registrar
Cameo Corporate Services Ltd.
- +91-44-28460390
- ipo@cameoindia.com
- Visit Website
IPO Lead Manager(s)
- Finshore Management Services Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- +91 95381 49978
- secretarial@shipwaves.com
- Visit Website
IPO FAQs
What is the Shipwaves Online IPO?
Shipwaves Online IPO is a SME IPO of 4,69,60,000 equity shares of the face value of ₹1 aggregating up to ₹56 Crores. The issue is priced at ₹12 per share. The minimum order quantity is 10000.
The IPO opens on Wed, Dec 10, 2025, and closes on Fri, Dec 12, 2025.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
How to apply in Shipwaves Online IPO through Zerodha?
Zerodha customers can apply online in Shipwaves Online IPO using UPI as a payment gateway. Zerodha customers can apply in Shipwaves Online IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shipwaves Online IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Shipwaves Online IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
When Shipwaves Online IPO will open?
The Shipwaves Online IPO opens on Wed, Dec 10, 2025 and closes on Fri, Dec 12, 2025.
What is the lot size of Shipwaves Online IPO?
Shipwaves Online IPO lot size is 10000, and the minimum amount required for application is ₹2,40,000, with 2 lots being the minimum application size.
How to apply for Shipwaves Online IPO?
You can apply in Shipwaves Online IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
When is Shipwaves Online IPO allotment?
The finalization of Basis of Allotment for Shipwaves Online IPO will be done on Monday, December 15, 2025, and the allotted shares will be credited to your demat account by Tue, Dec 16, 2025. Check the Shipwaves Online IPO allotment status.
When is Shipwaves Online IPO listing date ?
The Shipwaves Online IPO listing date is on Wed, Dec 17, 2025.
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