Shipwaves Online IPO listing: Shares of Shipwaves Online hit their 5% lower circuit after opening flat on Wednesday, December 17. Shipwaves Online share price opened at ₹12, at par with the issue price, amid weak market sentiment and fell to its 5% lower price band of ₹11.40. The SME stock's debut on the BSE SME platform was in line with grey market expectations, as the last grey market premium (GMP) of the stock was nil, indicating it could list at a flat price.
Shipwaves Online offers a comprehensive range of services to its clients, including managing complex freight forwarding operations or delivering cutting-edge Enterprise SaaS solutions.
"Our company offers two primary service categories—digital Freight Forwarding and Enterprise SaaS Solutions—each designed to meet the evolving needs of businesses in the global logistics and supply chain industry. Our expertise spans across multimodal transportation solutions, offering seamless end-to-end support for shipments across ocean, land, and air," reads the company's IPO document.
Its revenue grew by 12% in FY25, reaching ₹108.65 crore, while profit after tax nearly doubled from ₹6.29 crore to ₹12.20 crore compared to the previous year.
Shipwaves Online IPO details
The ₹56.35 crore SME IPO, priced at ₹12 per share, opened on Wednesday, December 10, and concluded on Friday, December 12. Share allotment was finalised on Monday, December 15.
The book build issue was entirely a fresh issue of 4,69,60,000 shares. Finshore Management Services was the book-running lead manager, and Cameo Corporate Services was the registrar of the Shipwaves Online IPO.
Shipwaves Online IPO saw an overall subscription of 1.64 times, with the retail portion booked nearly 3 times.
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