Shipwaves Online IPO: Price, GMP, Analysis, Details

Shipwaves Online IPO- Company Analysis

Shipwaves Online IPO under the SME IPO category is a fixed price issue of Rs. 56.35 Cr by Shipwaves Online Limited and is a company that offers enterprise SaaS solutions and digital freight forwarding.

The business provides a single platform for logistics and shipping, offering multimodal air, land, and sea transportation options that guarantee dependable, economical, and effective international shipment management.

Services:

Digital Forwarding of Freight.
Business SaaS Solutions.
Other Services.

Shipwaves Online IPO Details

The Shipwaves Online IPO date of opening is 10 December 2025, its initial public offering will end on 12 Dec, IPO allotment on Dec 15 and refund initiation on Dec 16, 2025.

The Rs. 56.35 crore new SME IPO comprises a wholly fresh issue of 4.70 crore shares.

The Shipwaves Online IPO listing date (expected) might be on Wednesday, Dec 17, 2025, and listing at the BSE and SME. 

The Shipwaves Online IPO price band is Rs. 12.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 10, 2025
IPO Closing Date	Dec 12, 2025
IPO Allotment Date	Dec 15, 2025
Refund Initiation	Dec 16, 2025
IPO Listing Date	Dec 17, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials (Restated Consolidated)

(Amount in Cr)

Particulars	30 Sep 2025	31 Mar 2025	31 Mar 2024
Assets	98.37	81.86	53.98
Total Income	41.71	108.65	97.28
PAT	4.68	12.20	6.29
EBITDA	7.89	18.96	11.04
Net Worth	30.77	25.87	14.82
Reserves & Surplus	21.32	16.42	5.37
Total Borrowing	40.04	34.52	24.14

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	-30.74	258.51	229.46
Net Cash Flow Investing Activities	-653.97	-1,116.94	-261.46
Net Cash Flow Financing Activities	689.00	868.93	16.47

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• To meet the working capital requirements of the issuer company. ~ Rs. 17.13 Cr.

• Investment in a Subsidiary for funding its working capital requirements. ~ Rs. 10 Cr.

• Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Issuer Company. ~ Rs. 15 Cr.

• General Corporate Expenses. ~ Rs. 8.45 Cr.

 

Listed Peers of Shipwaves Online Ltd.

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
Tiger Logistics (India) Limited	1.00	2.56	15.17
Lancer Container Lines Limited	5.00	-0.01	-1442.00
Timescan Logistics (India) Limited	10.00	8.38	7.36

 

Valuation

KPI	Value
ROE	50.85%
ROCE	25.79%
Debt/Equity	1.33
RoNW	41.89%
PAT Margin	10.01%
EBITDA Margin	17.51%

 

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 1.15 from the last year, the resulting P/E ratio is 10.43x.

Explore the Luxury Time IPO.

 

IPO's Strengths

• Promoters with experience and a qualified management team.

• Innovative software: transforming logistics solutions.

• Dedication to logistics excellence and cost effectiveness.

• Diverse clientele in numerous industries.

• Complete and tailored third-party logistics options.

 

IPO’s Weaknesses

• Reliance on third-party carriers.

• A small clientele.

• Insufficient promotion.

• Operational and labor challenges.

• Open market competition.

 

Shipwaves Online IPO GMP (Grey Market Premium)

Shipwaves Online IPO GMP today is Rs. 0 as of 06 Dec 2025 while writing this information. With a price band set at Rs. 12 suggests that the estimated listing price of the IPO could be around Rs. 12, indicating a gain/loss of 0%.

Shipwaves Online IPO Summary

IPO Opening & Closing Date	10 Dec, 2025 to 12 Dec, 2025
Face Value	Rs. 1 per Share
Issue Price	Rs. 12 per Share.
Lot Size	10,000 Shares
Issue Size	4,69,60,000 Shares (Rs. 56.35 Cr)
Offer for Sale	-
Fresh Issue	4,69,60,000 Shares (Rs. 56.35 Cr)
Listing at	BSE, SME
Issue Type	Fixed price issue IPO
Registrar	Cameo Corporate Services Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (20000 Shares) for Rs. 2,40,000, and in multiples thereof, while S-HNI investors can invest in a minimum of 3 Lots (30000 Shares) for Rs. 3,60,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Shipwaves Online IPO Allotment Status

To check the Shipwaves Online IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Shipwaves Online Ltd.

• Mr. Kalandan Mohammed Haris

• Mr. Kalandan Mohammed Althaf

• Mr. Kalandan Mohammad Arif

• Mr. Abid Ali

• Mrs. Bibi Hajira

• Mr. Mohammed Sahim Haris. 

Pre-Issue Promoter Shareholding	99.96%
Post-Issue Promoter Shareholding	66.73%

 

IPO Lead Managers

• Finshore Management Services Ltd.
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

 

Conclusion

With robust ROE and margin indicators, the Shipwaves Online IPO exposes investors to the rapidly expanding digital freight forwarding industry. However, operational difficulties, limited promotion, and reliance on third-party carriers continue to be important dangers to keep an eye on. 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.