IPO Details
Bidding Dates
30 Sep '25 - 06 Oct '25
Minimum Investment
₹2,40,000 / 2 Lots (20,000 Shares)
Price Range
₹12 per share
Maximum Investment
₹2,40,000 / 2 Lots (20,000 Shares)
Retail Discount
To be announced
Issue Size
₹56.35 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Market Maker |Shipwaves Online IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Sep 30, 25
IPO Close Date
Oct 06, 25
Tentative Allotment
Oct 07, 25
Initiation of Refunds
Oct 08, 25
Tentative Listing Date
Oct 09, 25
About Shipwaves Online IPO
Shipwaves Online Ltd. is launching a fixed-price IPO worth ₹56.35 crore, consisting entirely of a fresh issue of 4.70 crore equity shares. The IPO will open for subscription on September 30, 2025, and close on October 6, 2025. The basis of allotment is expected to be finalised on October 7, 2025, with a tentative listing date scheduled for October 9, 2025, on the BSE SME platform.
The IPO price has been set at ₹12 per share. The lot size for the application is 10,000 shares, making the minimum investment for retail investors ₹2,40,000 for 20,000 shares. For High Net-Worth Individuals (HNI), the minimum application size is 3 lots (30,000 shares), requiring an investment of ₹3,60,000.
Finshore Management Services Ltd. is the Book Running Lead Manager (BRLM) for the IPO, while Cameo Corporate Services Ltd. will act as the registrar. The company has appointed Anant Securities as its market maker to ensure liquidity post-listing.
This IPO aims to raise funds to support the company’s growth, operational expansion, and strengthen its market presence.
Shipwaves Online IPO Objectives
- A significant portion of the net proceeds, ₹1,713.05 lakhs (30.40%), will be used to meet the working capital requirements of Shipwaves Online Ltd. Additionally, ₹1,000 lakhs (17.75%) will be invested in its subsidiary to support its working capital needs, ensuring smooth operations and business expansion.
- The company plans to allocate ₹1,500 lakhs (26.62%) from the proceeds for the repayment or pre-payment of certain borrowings. This will help reduce interest costs, improve the balance sheet, and strengthen the company’s financial position.
- An amount of ₹845.28 lakhs (15%) will be used for general corporate purposes, such as growth initiatives, strategic business development, and other operational requirements. Additionally, ₹576.87 lakhs (10.24%) has been earmarked to cover issue-related expenses associated with the IPO.
About Shipwaves Online
Shipwaves Online Limited is a technology-driven logistics company offering a unified digital platform for global shipping and supply chain management. Established on February 27, 2015, as Shipwaves Online Private Limited, the company was later converted into a public limited company on November 18, 2022.
The company provides multimodal transportation solutions across ocean, land, and air, enabling businesses to manage shipments end-to-end with real-time visibility and transparency. Its platform allows clients to select the most cost-effective and efficient routes, ensuring smooth and timely deliveries.
Shipwaves operates through two core segments:
- Digital Freight Forwarding – Simplifies the logistics process through online booking, real-time shipment tracking, automated documentation, and customs clearance, reducing manual intervention and improving efficiency.
- Enterprise SaaS Solutions – Offers cloud-based tools for supply chain automation, including data analytics, demand forecasting, inventory management, and shipment planning to help businesses optimize operations.
By combining these services, Shipwaves delivers scalable, efficient, and transparent logistics solutions, helping businesses reduce costs and enhance performance.
Industry Outlook
- The Indian government has launched several initiatives to streamline logistics operations. Key measures include Dedicated Freight Corridors, 35 multi-modal logistics parks, and PM GatiShakti to reduce logistics costs and improve multi-modal connectivity. These initiatives are driving efficiency and lowering turnaround times across the sector.
- With India’s GDP at US$ 3.7 trillion in 2023 and a strong push for ‘Make in India’, the manufacturing sector is growing rapidly, accounting for 15.3% of GDP in FY22. This growth, combined with the booming e-commerce industry, is increasing the need for technology-enabled and efficient supply chain solutions, positioning India as a global logistics hub.
- The sector is embracing advanced technologies such as GPS tracking, RFID, and data analytics to optimize operations and reduce costs. Digital solutions like the Parivahan portal and e-way bill system are automating processes, enhancing transparency, and boosting productivity, paving the way for a future-ready logistics ecosystem.
How To Apply for the Shipwaves Online IPO?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Shipwaves Online IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Shipwaves Online IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Shipwaves Online
Registered office: Shipwaves Online Ltd., 18-2-16/4(3), 3rd Floor, Mukka Corporate House 1st cross, Attavara, Dakshina Kannada, Mangaluru, Karnataka, 575001
Phone: +91 95381 49978
Email: secretarial@shipwaves.com
Shipwaves Online IPO Reservation
|
Investor Category |
Shares Offered |
% of Total |
|
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 |
Shipwaves Online IPO Lot Size Details
|
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 Promoter Holding
The promoters of Shipwaves Online Limited are Mr. Kalandan Mohammed Haris, Mr. Kalandan Mohammed Althaf, Mr. Kalandan Mohammad Arif, Mr. Abid Ali, Mrs. Bibi Hajira, and Mr. Mohammed Sahim Haris.
|
Particulars |
Percentage (%) |
|
Promoter Holding (Pre-Issue) |
99.96% |
|
Promoter Holding (Post-Issue) |
66.73% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Shipwaves Online
|
Particulars |
31-03-2025 |
|
Total Income (₹ in lakhs) |
10,865.39 |
|
Total Net Worth (TNW) (₹ in lakhs) |
2,587.41 |
|
RONW (%) |
41.89% |
|
ROCE (%) |
25.79% |
|
Debt-Equity Ratio (Total Borrowing/TNW) |
1.33 |
Shipwaves Online IPO Prospectus
Shipwaves Online IPO Registrar and Lead Managers
Shipwaves Online IPO Lead Managers
- Finshore Management Services Ltd.
Registrar for Shipwaves Online IPO
Cameo Corporate Services Ltd.
- Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com
Financial Performance of Shipwaves Online
| Particulars | 31-03-2025 | 31-03-2024 | 31-03-2023 |
|---|---|---|---|
| Revenue from Operation (₹ in lakhs) | 10,828.41 | 9,671.02 | 6,930.84 |
| EBITDA (₹ in lakhs) | 1,896.15 | 1,104.01 | 406.24 |
| EBITDA Margin (%) | 17.51 | 11.42 | 5.86 |
| PAT (₹ in lakhs) | 1,083.77 | 583.68 | 224.11 |
| PAT Margin (%) | 10.01 | 6.04 | 3.23 |
Know before investing
Strengths
8-
Experienced Promoters with 40+ years of collective logistics industry expertise.
-
Innovative logistics software under advanced development to drive future growth.
-
Strong export revenue, contributing 39.50% from top customer in FY25.
-
Diversified client base, serving multiple sectors domestically and internationally.
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Comprehensive 3PL solutions including transportation, warehousing, and cross-border logistics services.
-
Cost-efficient operations achieved through technology-driven supply chain optimisation strategies.
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Top five customers contribute 71.94% revenue, reflecting strong client relationships.
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Competitive positioning in growing logistics sector with rising e-commerce and exports.
Risks
8-
Involvement in multiple legal proceedings may materially impact business operations.
-
Dependence on leased premises creates risk of operational disruption and relocation costs.
-
Revenue concentrated among a limited number of customers, increasing business volatility.
-
Top ten suppliers contribute over 60% of purchases, risking supply disruptions.
-
Adverse changes in trade volumes and freight rates may affect profitability.
-
Operations highly dependent on third-party transporters, limiting control over logistics efficiency.
-
Potential financial burden from litigation, penalties, or regulatory non-compliance.
-
Limited marketing presence may constrain customer acquisition and market expansion.
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Shipwaves Online Peer Comparison
| Competitor | Total Income (₹ Cr) | PAT (₹ Cr) | RONW (%) | Debt-Equity Ratio |
|---|---|---|---|---|
| Timescan Logistics | 25,816.65 | 585.51 | 22.32 | 0.17 |
| Tiger Logistics | 54,517.30 | 2,702.47 | 19.54 | 0.20 |
| Lancer Container Lines Ltd | 71,458.68 | -34.77 | -0.07 | 0.20 |
Shipwaves Online IPO FAQs
Shipwaves Online is launching an SME IPO to raise ₹56.35 crores by issuing fresh shares.
The IPO opens on September 30, 2025, and closes on October 6, 2025.
The basis of allotment is expected to be finalised on October 7, 2025.
The lot size is 10,000 shares. Retail investors must apply for a minimum of 2 lots (20,000 shares), amounting to an investment of ₹2,40,000 at the upper price band.
The IPO is expected to be listed on the BSE SME platform on October 9, 2025.
Listing gains cannot be predicted in advance. They depend on market demand, subscription levels, and overall investor sentiment on the listing day.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
After submitting your IPO application, log in to your UPI app and approve the mandate request to block funds.
No. Only one application per PAN is allowed in an IPO.
You can access the company’s financials by downloading the RHP document.
Pre-apply allows investors to submit their IPO application up to two days before the subscription window opens, ensuring early placement.
Your order will be placed when the IPO opens on September 26, 2025, and the UPI request will follow within 24 hours.
You’ll receive a notification once your order is successfully submitted to the exchange after bidding begins.
The registrar is Cameo Corporate Services Ltd. They are responsible for allotment and investor grievance handling.
The IPO will be listed on the BSE SME platform.
