Shipwaves Online IPO – Complete Detailed Review (2025) All Important Dates • Issue Details • Strengths • Risks • Financials • FAQs
Shipwaves Online Ltd is launching its SME IPO on the BSE–SME platform. The company is known for providing a unified digital platform for end-to-end shipping and logistics solutions in India, covering ocean, land, and air shipments.
1. Shipwaves Online IPO Details
| Particular | Details |
|---|---|
| Bidding Dates | 10 Dec 2025 – 12 Dec 2025 |
| Issue Size | ₹65.36 crore |
| Face Value | ₹1 per share |
| Price Band | ₹12 – ₹12 |
| Lot Size | 10,000 shares |
| Minimum Investment | ₹2,40,000 |
| Tentative Allotment Date | 15 Dec 2025 |
| Tentative Listing Date | 17 Dec 2025 |
| Exchange | BSE SME |
2. About Shipwaves Online Ltd
Founded in 2015, Shipwaves Online operates as an advanced and unified logistics platform that offers:
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End-to-end shipping management
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Ocean freight, air cargo, and land transportation
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Warehousing and freight forwarding
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Customs clearance
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Supply chain optimization
The company aims to simplify logistics through technology, automation, and strong partnerships.
Managing Director / CEO:
Mr. Kalandan Mohammed Haris
Parent Organisation: Shipwaves Online Ltd
3. Strengths of Shipwaves Online
✔ Advanced Unified Platform
The company provides a single, unified platform for all shipping needs, improving efficiency and customer satisfaction.
✔ Technology-Driven Operations
Shipwaves leverages automation, digital tracking, analytics, and streamlined processes to reduce operational expenses and improve service quality.
✔ Diverse Client Portfolio
The company serves Indian corporations and multinational companies, showing strong market presence and versatility.
✔ Strong Third-Party Logistics Network (3PL)
Services include:
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Transportation
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Warehousing
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Freight management
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Value-added logistics
These help customers achieve seamless supply chain operations.
✔ Consistent Revenue & Profit Growth
Revenue and profit have grown consistently over the years:
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FY23: Revenue – ₹58.31 crore
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FY24: Revenue – ₹96.71 crore
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FY25: Revenue – ₹108.28 crore
Profit After Tax (PAT) also shows continuous growth, indicating financial stability.
4. Risks Associated With Shipwaves Online
❌ High Revenue Dependency on Top Customers
The top 5 customers contributed:
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87.27% of total revenue in FY25
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79.07% in FY23
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75.74% in FY24
Loss of any major client could significantly impact the business.
❌ Freight Rate Volatility
Global shipping freight prices fluctuate frequently.
A sudden drop or surge can affect margins and profitability.
❌ Dependency on Third-Party Logistic Partners
Any delays, disputes, or service interruptions from partner agencies can disrupt business.
❌ High Operational and Travel Costs
Shipping routes, cross-border travel, and compliance requirements increase operational expenses.
❌ Legal Proceedings
The company, its promoters, and directors are involved in several ongoing legal cases, which may affect brand reputation.
❌ High Trade Receivables
As of 30 September 2025, the trade receivables stand at ₹5,432.42 crore.
Delayed payments can affect liquidity and cash flow.
5. Shipwaves Online Financial Performance
Revenue (₹ Crore)
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FY23 – 58.31
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FY24 – 96.71
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FY25 – 108.28
Profit After Tax (₹ Crore)
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FY23 – 2.24
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FY24 – 8.29
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FY25 – 12.20
The company shows positive and stable growth across all financial indicators.
6. Application Details – How to Apply
| Category | Details |
|---|---|
| Investor Type | Individual Investor |
| Price Band | ₹12 – ₹12 |
| Application Amount | ₹2 – 5 Lakh |
| Lot Size | 10,000 shares |
Eligible investors can apply via any brokerage supporting SME IPO applications.
7. Top FAQs About Shipwaves Online IPO
Q1: What is the issue size of the IPO?
The total issue size is ₹65.36 crore.
Q2: What is "pre-apply" in this IPO?
You can apply 4 days before the bidding period starts. Your order will be processed once the IPO opens.
Q3: What are the IPO dates?
10 Dec 2025 to 12 Dec 2025
Q4: What is the allotment date?
Tentative allotment: 15 Dec 2025
Q5: When will the IPO list?
Tentative listing date: 17 Dec 2025
Q6: What is the minimum lot size?
You must apply for a minimum of 1 lot = 10,000 shares.
Q7: Who is the registrar?
Cameo Corporate Services Ltd
Q8: On which exchange will the IPO list?
The IPO will be listed on BSE SME.
8. Final Verdict – Should You Consider This IPO?
Shipwaves Online shows:
✔ Strong financial growth
✔ Technology-based logistics solutions
✔ High demand in global shipping markets
But also:
❌ High dependency on a few customers
❌ High trade receivables
❌ Exposure to freight price fluctuations
Investors should evaluate the risk–reward ratio, considering the company’s growth potential and sector volatility.
Information in Short:
Shipwaves Online IPO: GMP, Dates, Price, Financials & Full Review (2025)
The Shipwaves Online IPO is launching on the BSE SME platform with strong interest from investors in the logistics-tech sector. The company offers a unified platform for digital shipping, logistics, warehousing, and freight forwarding. Here’s a short and SEO-optimized overview of the IPO, including dates, financials, risks, strengths, and FAQs.
Shipwaves Online IPO Details (Quick Info)
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IPO Open: 10 December 2025
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IPO Close: 12 December 2025
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Price Band: ₹12 per share
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Lot Size: 10,000 shares
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Minimum Investment: ₹2,40,000
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Issue Size: ₹65.36 Crore
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Allotment Date: 15 December 2025
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Listing Date: 17 December 2025
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Exchange: BSE SME
About Shipwaves Online
Founded in 2015, Shipwaves Online is a tech-driven logistics company offering:
-
Ocean, air, and land transportation
-
Customs clearance
-
Warehousing
-
Freight forwarding
-
Cross-border supply chain services
The company aims to simplify logistics with automation, digital tracking, and a strong 3PL partner network.
Strengths of Shipwaves Online
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Advanced unified logistics platform
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Wide customer base including corporates & MNCs
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Tech-enabled process automation
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Growing 3PL network and value-added logistics
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Consistent profit and revenue growth for the last 3 years
Risks to Consider
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Heavy dependency on top 5 customers (over 70%+ revenue)
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Freight rate fluctuations impact margins
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High trade receivables
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Ongoing legal proceedings
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Third-party vendor dependency
Financial Performance
Revenue Growth
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FY23: ₹58.31 Cr
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FY24: ₹96.71 Cr
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FY25: ₹108.28 Cr
Profit After Tax
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FY23: ₹2.24 Cr
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FY24: ₹8.29 Cr
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FY25: ₹12.20 Cr
Shipwaves shows strong revenue and profit momentum, backed by industry demand.
Should You Apply?
Shipwaves Online operates in a fast-growing logistics-tech sector and has shown strong financial growth. However, high customer dependency and freight volatility remain key risks. Investors should assess the risk-reward ratio before applying.
Common FAQs
Q. What is the Shipwaves Online IPO GMP?
GMP varies daily. Check updated sources before investing.
Q. What is the IPO minimum investment?
₹2,40,000 (1 lot = 10,000 shares).
Q. When is the listing date?
17 December 2025.
Q. On which exchange will it list?
BSE SME.
Disclaimer
This blog is for educational purposes only and does not constitute financial or investment advice. Always consult a SEBI-registered financial advisor before investing in IPOs or the stock market.
Disclaimer
This article is for educational purposes only.
It is NOT financial advice, investment advice, or a recommendation to buy or sell any securities.
Always consult a SEBI-registered financial advisor before making investment decisions.
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