Shipwaves Online
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 17 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹12 | ₹0 |
| 16 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹12 | ₹0 |
| 15 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹12 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 10 Dec 2025 – 12 Dec 2025
- Listing date
- 17 Dec 2025
- Face value
- ₹1 per share
- Issue price
- ₹12 per share
- Lot size
- 10,000 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹56.35 Cr
- Market cap at offer price
- ₹170 Cr
- Promoter holding
- 99.96% → 66.73% pre-issue → post-issue
- ISIN
- INE0O9L01010
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Finshore Management Services Ltd.
- Registered office
- 18-2-16/4(3), 3rd Floor, Mukka Corporate House 1st cross, Attavara, Dakshina Kannada, Karnataka
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 23,50,000 | — | — |
Application size
Minimum 10,000 shares per lot, in multiples, at ₹12
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 20,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 80,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 90,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹12 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.29 | 0.66 |
| P/E (×) | 9.30 | 18.18 |
| Price to book (×) | 4.38 | — |
| Market cap | — | ₹170 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 41.89%
- ROCE
- 25.79%
- Debt / equity
- 1.33
- PAT margin
- 10.01%
- EBITDA margin
- 17.51%
- NAV per share
- ₹2.74
- Price to book
- 4.38
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Shipwaves Online
Shipwaves Online Limited (formerly Shipwaves Online Private Limited) is a Mangalore (Karnataka)-headquartered digital logistics company, incorporated on February 27, 2015 and converted into a public limited company on November 18, 2022, with a branch office in Mumbai. It presents itself as 'a comprehensive, single unified platform designed to meet our client's shipping and logistical needs,' offering end-to-end multimodal transportation support for shipments across Ocean, Land and Air. Its two primary service categories are Digital Freight Forwarding (Ocean FCL/LCL, NVOCC, air cargo, road transport, supported by quick quotes, online booking, digital documentation and real-time tracking) and Enterprise SaaS Solutions (order management, rate procurement, shipment planner, real-time visibility, data analytics), supplemented by trade finance, insurance, warehousing, customs clearance and relocation services. It earns revenue mainly from freight forwarding charges (96.93% of consolidated turnover for the six months ended September 30, 2024) with the balance from SaaS (3.07%). Through its Dubai-based subsidiary Shipwaves Online LLC (incorporated December 25, 2017; 87% acquired, subsidiary from January 2, 2024), it also serves Middle East markets. Restated consolidated total income was ₹9,727.60 Lakhs in FY2023-24 (PAT attributable to shareholders ₹583.68 Lakhs) and ₹4,581.37 Lakhs for the six months ended September 30, 2024 (PAT attributable to shareholders ₹555.39 Lakhs).
Company Analysis
from DRHPShipwaves Online Limited operates a unified digital logistics platform providing multimodal freight forwarding across Ocean, Land (Road) and Air, together with Enterprise SaaS supply-chain management software.
Shipwaves Online Limited (formerly Shipwaves Online Private Limited) is a Mangalore (Karnataka)-headquartered digital logistics company, incorporated on February 27, 2015 and converted into a public limited company on November 18, 2022, with a branch office in Mumbai. It presents itself as 'a comprehensive, single unified platform designed to meet our client's shipping and logistical needs,' offering end-to-end multimodal transportation support for shipments across Ocean, Land and Air. Its two primary service categories are Digital Freight Forwarding (Ocean FCL/LCL, NVOCC, air cargo, road transport, supported by quick quotes, online booking, digital documentation and real-time tracking) and Enterprise SaaS Solutions (order management, rate procurement, shipment planner, real-time visibility, data analytics), supplemented by trade finance, insurance, warehousing, customs clearance and relocation services. It earns revenue mainly from freight forwarding charges (96.93% of consolidated turnover for the six months ended September 30, 2024) with the balance from SaaS (3.07%). Through its Dubai-based subsidiary Shipwaves Online LLC (incorporated December 25, 2017; 87% acquired, subsidiary from January 2, 2024), it also serves Middle East markets. Restated consolidated total income was ₹9,727.60 Lakhs in FY2023-24 (PAT attributable to shareholders ₹583.68 Lakhs) and ₹4,581.37 Lakhs for the six months ended September 30, 2024 (PAT attributable to shareholders ₹555.39 Lakhs).
Objects of the Issue
- To meet Working Capital Requirements of Issuer Company ₹ 2,846.68 Lakhs (40.41% of total issue size) p.72
- Investment in Subsidiary (Shipwaves Online LLC, Dubai) for funding its working capital requirements ₹ 1,000.00 Lakhs (14.20% of total issue size) p.72
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Issuer Company ₹ 1,500.00 Lakhs (21.29% of total issue size) p.72
- Issue Related Expenses (to meet the Issue Expenses) ₹ 697.32 Lakhs (9.90% of total issue size) p.72
- General Corporate Expenses/Purposes ₹ 1,000.00 Lakhs (14.20% of total issue size) p.72
Issue Structure
- Total Issue
- Up to 4,69,60,000 Equity Shares aggregating to ₹ 7,044.00 Lakhs (constituting 33.19% of the post-issue paid-up equity share capital)
- Fresh Issue
- Up to 4,69,60,000 Equity Shares aggregating to ₹ 7,044.00 Lakhs (the entire issue is a Fresh Issue)
- Offer for Sale
- Nil (OFS Size: Nil; Details of OFS by Promoter(s)/Promoter Group/Other Selling Shareholders: - NIL -)
- Price Band
- ₹15/- per Equity Share (Fixed Price Issue, including a share premium of ₹14/- per Equity Share)
- Lot Size
- 8,000 Equity Shares (minimum lot size); minimum application size is two lots per application (above ₹2 lakhs)
- Face Value
- ₹1/- each
Business Model
The Company earns revenue primarily from digital freight forwarding services — arranging and managing multimodal cargo movement across ocean (FCL/LCL), NVOCC, air and road, earning freight income — complemented by Enterprise SaaS subscription revenue from its logistics/supply-chain software platform (order management, rate procurement, shipment planning, real-time visibility, data analytics), plus ancillary services such as trade finance, insurance, warehousing, customs clearance and relocation.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Kalandan Mohammed Haris | Promoter | 31.58% | 21.10% |
| Kalandan Mohammed Althaf | Promoter | 10.53% | 7.03% |
| Kalandan Mohammad Arif | Promoter | 10.53% | 7.03% |
| Abid Ali | Promoter | 42.02% | 28.08% |
| Bibi Hajira | Promoter | 5.23% | 3.50% |
| Mohammed Sahim Haris | Promoter | - | - |
| Faiza Atheeq | Promoter Group | 0.08% | 0.05% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.