Fixed Price IPO | ₹56 Cr | Listed at BSE SME | Wed, Dec 10, 2025 - Fri, Dec 12, 2025
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 Open
Wed, Dec 10, 2025
IPO Close
Fri, Dec 12, 2025
Issue Price
₹12 per share
Market Cap (Pre-IPO)
₹169.79 Cr
| 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 only |
| 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 Anant Securities (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 4,46,10,000 shares (agg. up to ₹54 Cr) |
| 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 |
Shipwaves Online IPO comprises a total issue size of 4,69,60,000 shares. The net offer to the public is 4,46,10,000 shares, after excluding 23,50,000 shares allotted on a firm basis. Of the Net offer 2,23,00,000 (49.99%) allocated to NII 2,23,10,000 (50.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 2,23,00,000 | 49.99% | 47.49% |
| Retail Shares Offered | 2,23,10,000 | 50.01% | 47.51% |
| Firm Reservations | |||
| Market Maker Shares Offered | 23,50,000 | 5.00% | |
| Total Shares Offered | 4,69,60,000 | 100.00% | 100.00% |
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 |
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.
As of the October 31, 2025, the company had 35 employees on payroll.
Competitive Strengths:
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 | ||||
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 |
| 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 (₹) | 1.29 | 0.66 |
| P/E (x) | 9.3 | 18.12 |
| Promoter Holding | 99.96% | 66.73% |
| Market Cap | ₹169.79 Cr. |
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.
| # | 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 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹12.00 |
| Open | ₹12.00 |
| Low | ₹11.40 |
| High | ₹12.00 |
| Last Trade | ₹11.40 |
Lead Manager Reports
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.
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 Zerodha IPO Application Process Review for more detail.
The Shipwaves Online IPO opens on Wed, Dec 10, 2025 and closes on Fri, Dec 12, 2025.
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.
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.
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.
The Shipwaves Online IPO listing date is on Wed, Dec 17, 2025.
