Shipwaves Online IPO is an upcoming SME public issue that aims to raise around ₹56.35 crore. The Shipwaves Online IPO will open on December 10, 2025 and close on December 10, 2025. The company is coming out with a fixed price issue priced at ₹12 per share. The allotment will be finalised on December 15, 2025 and the listing will take place on the BSE SME platform on December 17, 2025.
The offer includes a fresh issue of ₹56.35 crore along with an offer for sale of _ equity shares having a face value of ₹1 each. The retail quota stands at 50%, while NII also gets 50%.
Shipwaves Online reported revenue of ₹108.65 crore and a net profit of ₹12.20 crore in FY 2025. Based on these financials, the IPO may attract long-term-oriented investors.
Contents
Shipwaves Online IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | December 10, 2025 |
| IPO Close Date | December 12, 2025 |
| Face Value | ₹1 per equity share |
| IPO Price | ₹12 per share |
| Issue Size | Approx ₹56.35 crore |
| Fresh Issue | Approx ₹56.35 crore |
| Offer for Sale | _ |
| Issue Type | Fixed Price Issue |
| Listing | BSE SME |
| DRHP | View PDF |
| RHP | View PDF |
Shipwaves Online IPO
Open: 10-12 Dec 2025
Issue Size: ₹56.35
Objective: Use IPO money for working capital, subsidiary investment, repay borrowings, and general corporate purposes.
Exchange: BSE SME
Shipwaves Online IPO GMP Today
The Shipwaves Online SME IPO is currently showing a Grey Market Premium (GMP) of ₹0, as per the latest update on 9 December 2025. With the IPO price band set at ₹12 per share, the estimated listing price also stands at ₹12, indicating no premium or discount in the grey market at the moment. This means the expected gain or loss per share remains 0.00%, which is typical when market sentiment is stable or when grey market participants are waiting for stronger signals.
Latest GMP Trend:
| Particulars | Details |
|---|---|
| Last Updated | 9 December 2025 |
| GMP Today | ₹0 |
| IPO Price Band | ₹12 |
| Estimated Listing Price | ₹12 |
| Expected Gain/Loss | 0.00% |
Over the past 33 grey market sessions, the GMP for this IPO has shown no major movements, reflecting a steady and cautious market tone. Such trends usually suggest that investors are evaluating fundamentals rather than reacting to short-term speculation. If the same behaviour continues, the GMP is likely to remain flat until the listing day.
Shipwaves Online IPO Review
Shipwaves Online operates in digital freight forwarding and logistics tech. The company offers a single digital platform to manage multimodal transportation, covering sea, air and road.
With strong demand for digital logistics solutions, the business model looks relevant. The financials show healthy revenue growth and profitability. Investors with a long-term outlook may track the issue considering the company’s position in the freight-tech space.
Market Lot
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 20,000 | ₹2,40,000 |
| Retail Maximum | 2 | 20,000 | ₹2,40,000 |
| S-HNI Minimum | 3 | 30,000 | ₹3,60,000 |
IPO Reservation
| Investor Category | Shares Offered | % of Shares |
|---|---|---|
| NII Shares Offered | 2,23,00,000 Shares | 47.49% |
| Retail Shares Offered | 2,23,10,000 Shares | 47.51% |
- Also Read: Omnitech Engineering IPO
Shipwaves Online IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 10, 2025 |
| IPO Close Date | December 12, 2025 |
| Basis of Allotment | December 15, 2025 |
| Refunds | December 16, 2025 |
| Credit to Demat Account | December 16, 2025 |
| IPO Listing Date | December 17, 2025 |
| IPO Bidding Cut-off Time | December 12, 2025 – 5 PM |
Promoters and Holding Pattern
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 9,45,35,000 | 99.96% |
| Promoter Holding Post-Issue | 14,14,95,000 | 66.73% |
Objects of the Issue
The company plans to use a part of the proceeds to meet its working capital requirements. A portion will be invested into its subsidiary to support its working capital needs.
Funds will also be utilised for repayment or pre-payment of certain borrowings. The issue proceeds will further cover IPO-related expenses and support other general corporate requirements.
About Shipwaves Online Limited
Shipwaves Online Limited is a digital freight forwarding company offering end-to-end logistics solutions through a single online platform. The company provides ocean freight, air cargo, road transport and multimodal services with flexible routing and transport options.
Through its digital tools, Shipwaves helps businesses improve freight movement, reduce manual work and save time and cost. Its services include Ocean FCL, Ocean LCL, NVOCC operations, air freight and road transportation.
Shipwaves Online Financial Report (₹ in crore)
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹97.28 | ₹90.03 | ₹6.29 | ₹53.98 |
| 2025 | ₹108.65 | ₹97.82 | ₹12.20 | ₹81.86 |
Shipwaves Online IPO Valuation – FY 2025
| KPI | Value |
|---|---|
| ROE | 77.44% |
| ROCE | 75.10% |
| EBITDA Margin | 20.80% |
| PAT Margin | 18.82% |
| Debt-to-Equity | 0.08 |
| EPS (Basic) | ₹1.15 |
| P/E Ratio | 10.47 |
| RoNW | 41.89% |
| NAV | ₹2.74 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Tiger Logistics (India) Ltd | 2.56 | 20.12 | 19.54% | 13.08 | ₹536.31 cr |
| Lancer Container Lines Ltd | (0.01) | (1,262.00) | (0.07%) | 19.45 | ₹699.14 cr |
| Timescan Logistics (India) Ltd | 8.38 | 7.04 | 22.32% | 37.54 | ₹257.97 cr |
IPO Lead Manager
Finshore Management Services Ltd.
Company Address
| Field | Details |
|---|---|
| Company Name | Shipwaves Online Ltd. |
| Address | 18-2-16/4(3), 3rd Floor, Mukka Corporate House 1st Cross, Attavara, Dakshina Kannada, Mangaluru, Karnataka – 575001 |
| Phone | +91 95381 49978 |
| secretarial@shipwaves.com | |
| Website | shipwaves.com |
IPO Registrar
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: ipo.cameoindia.com
Shipwaves Online IPO FAQs
What is Shipwaves Online IPO?
Shipwaves Online IPO is an SME IPO of ₹56.35 crore priced at ₹12 per share. The shares will be listed on the BSE SME platform.
When will the IPO open?
The IPO will open on December 10, 2025 and close on December 10, 2025..
What is the investors’ portion?
QIB 00%, NII 50%, Retail 50%.
How to apply for the IPO?
You can apply through ASBA via your bank account or through UPI using your stockbroker’s platform. Offline application through brokers is also available.
What is the allotment date?
The allotment date is December 15, 2025.
When will the IPO list?
The listing date is December 17, 2025 on the BSE SME platform.
Expert Comment
Shipwaves Online operates in a fast-digitising logistics sector, and its multi-modal freight solutions make the business model relevant for modern supply chains. The financial performance indicates strong profitability and efficient use of capital.
With low debt and competitive valuations for an SME IPO, the company may appeal to investors looking for exposure to the digital logistics space. However, investors should assess overall market conditions and compare peer valuations before making a final decision.
