BSE SME Shipwaves Online hits choppy waters on market debut

Shipwaves Online traded at Rs 11.40 on the BSE, a discount of 5% compared with the issue price of Rs 12.

The scrip was listed at Rs 12, matching the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 12 and a low of Rs 11.40. About 26.30 lakh shares of the company changed hands at the counter.

Shipwaves Online's IPO was subscribed 1.61 times. The issue opened for bidding on 10 December 2025 and it closed on 12 December 2025. The price of the IPO was fixed at Rs 12 per share.

The IPO comprised fresh issue of 4,69,60,000 equity shares. The promoter and promoter group shareholding diluted to 66.79% from 99.96% pre-issue.

The company intends to utilize the net proceeds to meet working capital requirements, investment in subsidiary for funding its working capital requirements, repayment and/or pre-payment, in full or part, of certain borrowings availed by the issuer company and general corporate expenses.

Shipwaves Online operates a unified digital platform that provides shipping and logistics solutions to its clients. The company offers multimodal transportation services, supporting end-to-end shipment management across ocean, land and air routes. Its platform enables businesses to plan, track and manage global shipments through a single interface, with real-time visibility from origin to destination. By integrating multiple modes of transport, Shipwaves Online allows clients to select routing and transportation options based on operational requirements such as cost, transit time and efficiency. As of 31 October 2025, the company had 35 employees on a payroll basis.

The company recorded revenue from operations of Rs 40.98 crore and a net profit of Rs 4.68 crore for the period ended 30 September 2025.

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