Shipwaves IPO Listing Details: Shares reached lower circuit, stocks priced at Rs 12 gave a big blow to retail investors.

Shipwaves IPO Listing Details: Shares of multimodal transportation service provider Shipwaves Online had a weak start in the domestic market today. Its IPO also did not get much interest from investors. The share of non-institutional investors was also not fully subscribed.

However, due to retail investors, the total subscription was more than 1.5 times. Shares were issued in the IPO at a price of ₹12 per share. Today, it listed on BSE SME at ₹12.00, which means IPO investors did not make any profit on the listing. IPO investors got another shock when the share price fell. It fell to the lower circuit of ₹11.40 (Shipwaves share price), which means IPO investors are now facing a loss of 5.00%.

How will ShipWaves IPO funds be used?

ShipWaves Online’s ₹56.35 crore IPO was open for subscription from December 10-12. The IPO received a mixed response from investors and was subscribed 1.64 times overall. The non-institutional investors (NII) portion was subscribed 0.36 times, while the reserve portion for retail investors was subscribed 2.92 times. The IPO issued 4,69,60,000 new shares of ₹1 face value.

Of the funds raised from these shares, ₹7.35 crore will be used to purchase more laptops for new features in the LMS (learning management system), new products and courses, ₹5 crore will be used for working capital needs and the remaining funds will be used for general corporate purposes.

About Shipwaves

Established in 2015, ShipWaves is in the business of online digital freight forwarding and enterprise SaaS (Software-as-a-Service) solutions. The company provides a platform for shipping and logistics, which provides transportation services via land, air and sea.

The financial condition of the company has continuously improved. In FY 2023, the company earned a net profit of ₹2.24 crore, which increased to ₹6.29 crore in the next FY 2024 and further increased to ₹12.20 crore in FY 2025. During this period, the company’s total income grew at a compound annual growth rate (CAGR) of more than 25%, reaching ₹108.65 crore.

In the current FY 2026, for the first half (April-September 2025), the company has already achieved a net profit of ₹4.68 crore and total income of ₹41.71 crore. As of the end of the September 2025 quarter, the company had total debt of ₹40.04 crore, while its reserves and surplus stood at ₹21.32 crore.