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SHIPWAVES · BSE · Logistics Solution Provider
Shipwaves Online IPO listed on 17 Dec 2025 on BSE at ₹12.00, a gain of 0.00% over the issue price of ₹12.00. The IPO was subscribed 1.64x overall.
Shipwaves Online IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 10 Dec 2025 |
| IPO Close Date | 12 Dec 2025 |
| Basis of Allotment | 15 Dec 2025 |
| Initiation of Refunds | 16 Dec 2025 |
| Credit of Shares to Demat | 16 Dec 2025 |
| Listing Date | 17 Dec 2025 |
Listing day gain
+0%
Listed at ₹12 (issue ₹12)
Issue
₹12
Listing
₹12
Current
₹11.4
-5% vs issue
Day range
₹11.4 – ₹12
Issue Size
46,960,000 shares
(aggregating up to ₹56.00 Cr)
Issue Price
₹12 – ₹12
Face Value
₹1/share
Market Lot
10,000 shares
Retail Min Investment
₹240,000
Listing At
BSE
Sale Type
fresh issue
Fresh Issue
44,610,000 shares
(aggregating up to ₹54 Cr)
Offer for Sale
[.]
Reserved for Market Maker
2,350,000 shares
(aggregating up to ₹2.82 Cr)
Issue Type
fixed price
Open Date
10 Dec
Close Date
12 Dec
Allotment
15 Dec
Listing
17 Dec
Last updated: 9 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 11 Dec 2025 Latest | ₹12 | ₹0 | ₹12 | ₹0 |
0%
|
6:56 PM |
| 10 Dec 2025 | ₹12 | ₹0 | ₹12 | ₹0 |
0%
|
4:49 PM |
Latest snapshot: 12 Dec 2025
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| NII | 0.36x | - |
| Retail Investors | 2.92x | - |
| Total | 1.64x | - |
Showing the latest subscription snapshot.
View full subscription historyMr. Kalandan Mohammed Haris, Mr. Kalandan Mohammed Althaf, Mr. Kalandan Mohammad Arif, Mr. Abid Ali, Mrs. Bibi Hajira and Mr. Mohammed Sahim Haris are the promoters of the company.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 20,000 | ₹240,000 |
| Retail (Max) | 2 | 20,000 | ₹240,000 |
| S-HNI (Min) | 3 | 30,000 | ₹360,000 |
| S-HNI (Max) | 8 | 80,000 | ₹960,000 |
| B-HNI (Min) | 9 | 90,000 | ₹1,080,000 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,350,000 (5.00%) |
| NII (HNI) Shares Offered | 22,300,000 (47.49%) |
| Retail Shares Offered | 22,310,000 (47.51%) |
| Total Shares Offered | 46,960,000 (100.00%) |
Shipwaves Online Limited is a Mangalore-based company (founded in 2015) that acts as a digital agent for shipping goods. Instead of using traditional, slow methods, they use a technology platform (SaaS) to help companies manage their shipping by sea, land, and air. They also help with customs clearance and warehousing.
Unified Digital Platform: Unlike traditional freight forwarders, Shipwaves operates a proprietary Enterprise SaaS platform. This allows for end-to-end transparency, real-time tracking, and automated documentation across ocean, air, and land.
Multimodal Expertise: The ability to manage complex global shipments through a single interface reduces operational friction for clients.
Financial Resilience: The company has shown a significant upward trend in profitability. For instance, Profit After Tax (PAT) grew from ₹2.24 Cr in FY23 to ₹12.20 Cr in FY25.
Strategic Certifications: Being a registered customs house agent and having international logistics accreditations provides a competitive "moat" in a highly regulated industry.
International Expansion: Using IPO proceeds, the company is aggressively targeting the Middle East and North Africa (MENA) markets, specifically through its subsidiary in Dubai (Shipwaves Online LLC).
Debt Reduction: A significant portion of the IPO funds (₹15 Cr) was earmarked for the repayment of borrowings, which strengthens the balance sheet and reduces interest costs.
Digital Transformation: As global trade shifts toward "Digital Freight Forwarding," Shipwaves is positioned to capture market share from traditional players who lack integrated SaaS capabilities.
SaaS Monetization: Beyond moving cargo, the company is scaling its software-as-a-service offerings to provide analytics and supply chain orchestration for other businesses.
Standalone · ₹ in Crores
| Particulars | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total Revenue | 69.49 | 97.28 | 108.65 |
| Profit After Tax (PAT) | 2.24 | 6.29 | 12.2 |
| EBITDA | 4.06 | 11.04 | 18.96 |
| Total Assets | 26.43 | 53.98 | 81.86 |
| Net Worth | -1.31 | 14.82 | 25.87 |
| Reserves & Surplus | -0.41 | 5.37 | 16.42 |
| Total Borrowing | 8.89 | 24.14 | 34.52 |
Revenue & Profit Trend
The basis of allotment for Shipwaves Online IPO was finalised on 15 Dec 2025. You can check your allotment status using your PAN number or application number on the Cameo Corporate Services Ltd. portal or BSE.
The Shipwaves Online IPO is expected to open in Dec 2025, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Shipwaves Online IPO is ₹12.00 - ₹12.00 per share.
As per market sources, Shipwaves Online IPO GMP is currently ₹0.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Shipwaves Online IPO stands at 1.64x overall.
The listing date for Shipwaves Online IPO is 17 Dec 2025.
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