Shipwaves Online Ltd. IPO – Complete 2025 Analysis
Shipwaves Online Limited, a pioneering company in digital logistics and freight management, is launching its Initial Public Offering (IPO) on the BSE SME platform in 2025. This report provides a detailed overview for investors, including IPO structure, financials, listing details, risks, and market prospects.
Company Background
Shipwaves Online Ltd. was incorporated on 27 February 2015 in Mangalore, Karnataka. Its Corporate Identification Number (CIN) is U74900KA2015PLC079072. The company operates primarily in the digital logistics and freight forwarding sector, offering technologically advanced supply chain solutions.
With the Indian logistics sector witnessing rapid digital transformation, Shipwaves Online aims to expand its reach and strengthen working capital with the funds raised through this IPO.
IPO Key Highlights
| Feature | Details |
|---|---|
| IPO Type | Fixed Price IPO (BSE SME platform) |
| Issue Size | ₹ 56.35 crore |
| Face Value | ₹ 1 per share |
| Issue Price | ₹ 12 per share |
| No. of Shares Offered | Up to 4,69,60,000 equity shares |
| Market Maker Reservation | 23,52,000 shares |
| Net Public Issue | 4,46,08,000 shares |
| Post-IPO Capital | ~33.19% of post-issue paid-up capital (including MM) |
| Lot Size / Minimum Application | 8,000 shares (check prospectus for final confirmation) |
| Use of Proceeds | Working capital, subsidiary investment, debt repayment, IPO expenses, corporate purposes |
| Lead Manager / Book Runner | Finshore Management Services Ltd. |
| Registrar | Cameo Corporate Services Ltd. |
IPO Opening & Closing Dates
The IPO is expected to open on 30 September 2025 and close on 6 October 2025. Investors should note that SME IPOs may have different subscription rules compared to mainboard IPOs, and timely application is crucial.
Lot Size & Investment Requirement
The minimum application is 8,000 shares, priced at ₹12 each.
- Minimum investment: ₹96,000 (8,000 × ₹12)
- Investors can apply in multiples of the lot size.
- Market maker allocation is separate, reserved for liquidity support.
Financial Overview
Shipwaves Online Ltd. has shown steady growth in revenue and profits:
- Revenue (FY2025): ₹ 91.4 crore
- Net Profit (PAT): ₹ 11.1 crore
- EPS (Earnings per Share): Data per prospectus
- Debt Level: Moderate; part of IPO proceeds to reduce debt
The financials indicate a profitable SME company in the logistics and supply chain sector, suitable for long-term investors seeking SME IPO exposure.
Use of IPO Proceeds
The company plans to deploy the funds as follows:
- Working Capital Requirements: Expansion of operations, technology upgrades, and operational efficiency.
- Investment in Subsidiary: Strengthening related entities to scale logistics solutions.
- Debt Repayment / Prepayment: Reduction of borrowings to improve balance sheet strength.
- IPO Expenses: Payment of legal, listing, and other issue-related costs.
- General Corporate Purposes: Ensuring strategic flexibility post-listing.
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Pros & Risks for Investors
Pros:
- Presence in growing digital logistics sector
- Profitable SME company with reasonable debt levels
- Fixed price IPO provides clarity on entry cost
- Potential listing gains on BSE SME platform
Risks:
- SME IPOs tend to have lower liquidity, which may impact short-term trading
- Dependence on fuel costs, trade cycles, and regulations
- Market perception and subscription levels can influence listing performance
- Lot size investment is high (~₹96,000) for retail investors
Subscription & Investor Interest
- SME IPOs are usually subscribed 1–3 times initially but can exceed depending on market sentiment.
- Investors can track subscription levels on BSE SME website during the IPO period.
Market Outlook for Logistics Sector
The Indian logistics industry is projected to grow significantly due to:
- E-commerce boom
- Government initiatives like Gati Shakti & Logistics Policy
- Increased digital adoption in freight and warehousing
- Rising exports and import demand
Shipwaves Online Ltd., being a tech-enabled logistics company, is positioned to benefit from these trends.
Listing & Trading
- Expected listing on BSE SME platform
- Investors may see short-term listing gains if market sentiment is positive
- SME IPOs are volatile; careful attention to subscription and market conditions is advised
Conclusion
Shipwaves Online Ltd. IPO is an attractive SME investment opportunity for investors seeking exposure to India’s digital logistics sector. With moderate profitability, clear use of funds, and SME listing on BSE, the IPO offers growth potential but comes with SME-specific risks like liquidity constraints and market volatility.
Investors should carefully evaluate their risk appetite, lot size affordability, and market conditions before applying.
Subscription
| Investor | Pending | Pending | Pending |
|---|---|---|---|
| Anchor | |||
| QIB | |||
| Non-Institutional | |||
| BNII | |||
| SNII | |||
| Retail | |||
| Total |
GMP Trend:
| Date | GMP |
|---|---|
| Pending | ₹0.00(0.00%) |
| Pending | ₹0.00(0.00%) |
| Pending | ₹0.00(0.00%) |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
How to Check IPO Allotment Status:
Cambridge
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
NSE Website
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
BSE Webiste
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
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- Past performance of stocks or indices is not indicative of future returns.
- Always conduct your own research or consult a SEBI-registered financial advisor before making investment decisions.
- ⚠️ IPO (Initial Public Offerings)
- IPO details, issue size, subscription data, and allotment status shared here are based on publicly available information from company filings, stock exchanges, and merchant bankers.
- Investing in IPOs carries risks including listing volatility, business uncertainties, and sector performance dependency.
- Neither acceptance of applications nor allotment guarantees profits. Investors should evaluate their risk appetite before subscribing.
- ⚠️ GMP (Grey Market Premium)
- Grey Market Premium (GMP) is an unofficial and unregulated indicator of expected IPO listing price.
- GMP data is collected from market observers and informal trading circles; it does not have any legal or SEBI recognition.
- GMP values are highly speculative and may differ significantly from actual listing prices. Investors should not rely solely on GMP while taking investment decisions.
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- We do not provide any buy/sell/hold recommendations.
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by Mirae Asset (m,Stock)
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