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10 Apr, 2026
Shipwaves Online IPO
Shipwaves Online IPO is a fixed price issue of ₹56.35 crores. The IPO consists entirely of a fresh issue of 4.69 crore shares. The issue price is fixed at ₹12 per share, with a lot size of 10,000 shares. The minimum investment required by a retail investor is ₹2,40,000 (20,000 shares or 2 lots). The IPO opens for subscription on December 10, 2025 and closes on December 12, 2025. Shares of Shipwaves Online IPO will list on the BSE SME platform, with a tentative listing date of December 17, 2025.
Company Background
Shipwaves Online Ltd, incorporated in 2015, operates in digital freight forwarding and enterprise SaaS solutions for logistics. The company provides a unified platform for multimodal transportation across ocean, land and air, including freight booking, customs clearance, trade finance, insurance, warehousing and relocation services. It leverages advanced technology for real-time shipment tracking, cost comparison and operational efficiency, serving exporters, importers and SMEs in sectors like chemicals and textiles. As of October 31, 2025, the company employs 35 people and maintains branch offices to support its global network.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Shipwaves Online IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Shipwaves Online IPO Details
| Detail | Description |
|---|---|
| IPO Date | Wed, Dec 10, 2025 to Fri, Dec 12, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Issue Price Band | ₹12 per share |
| Lot Size | 10,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 4,69,60,000 shares (aggregating up to ₹56.35 Cr) |
| Reserved for Market Maker | 23,50,000 shares (aggregating up to ₹2.82 Cr) Anant Securities |
| Net Offered to Public | 4,46,10,000 shares (aggregating up to ₹53.53 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 9,45,35,000 shares |
| Share Holding Post Issue | 14,14,95,000 shares |
Shipwaves Online IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Wed, Dec 10, 2025 |
| IPO Close Date | Fri, Dec 12, 2025 |
| Tentative Allotment | Mon, Dec 15, 2025 |
| Initiation of Refunds | Tue, Dec 16, 2025 |
| Credit of Shares to Demat | Tue, Dec 16, 2025 |
| Tentative Listing Date | Wed, Dec 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 12, 2025 |
Shipwaves Online IPO Lot Size
| 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 |
Shipwaves Online IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 99.96% |
| Promoter Holding Post Issue | 66.73% |
Competitive Strength:
- • Tech-driven platform offering end-to-end digital logistics under one roof, with AI-based automation for ocean, land and air cargo.
- • Strong financial growth: revenue up 12% and PAT surged 94% from FY24 to FY25, with EBITDA margins at 17.51%.
- • Healthy KPIs include ROE of 50.85%, ROCE of 25.79% and PAT margin of 10.01% as of March 31, 2025.
- • Asset-light model with 99.96% promoter holding pre-IPO, scaling efficiently in a fragmented market.
Shipwaves Online IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 98.37 | 41.71 | 4.68 | 30.77 | - | 40.04 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 82 | 109 | 12 | 25.87 | - | 34.52 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 53.98 | 97.28 | 6.29 | 14.82 | - | 24.14 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 26.43 | 69.49 | 2.24 | -1.31 | - | 8.89 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| 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 | 1 |
| P/E (x) | 9.3 | 18 |
Use of Proceeds
The net proceeds will fund working capital (₹17.13 Cr), investment in subsidiary's working capital (₹10 Cr), repayment of borrowings (₹15 Cr) and general corporate expenses (₹8.45 Cr).
Conclusion
The Shipwaves Online IPO offers exposure to India's booming digital logistics sector, backed by robust growth metrics like 12% revenue increase and 94% PAT jump in FY25. With its modern tech platform, diversified services and strong profitability indicators, the company stands ready for expansion amid rising global trade demands. Investors eyeing SME opportunities in logistics tech may find this issue compelling at its fixed pricing.
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