The company will issue 4.69 crore equity shares of face value ₹1/- each at a fixed price of ₹12 per share, representing a 33.19% dilution post-issue.
Unified Logistics & SaaS Solutions Company
Founded in 2015, Shipwaves operates as a multimodal logistics platform providing ocean, air, and road freight solutions alongside a suite of enterprise SaaS tools for supply chain optimization.
Its offerings include real-time visibility, automated documentation, online booking, demand forecasting, and digital freight management, enabling seamless, end-to-end logistics operations.
Strong Financial Growth
Shipwaves has demonstrated robust growth, with consolidated revenue rising to ₹108.28 crore in FY25, up from ₹96.71 crore in FY24.
Profit after tax nearly doubled to ₹10.83 crore in FY25, compared to ₹5.83 crore in FY24, while EBITDA margin improved to 17.51%, reflecting enhanced operational efficiencies.
For the six-month period ending September 30, 2025, the company recorded ₹40.98 crore in revenue and ₹4.45 crorePAT, maintaining a 10.88% profit margin.
Use of IPO Proceeds
As per the prospectus, Shipwaves will utilize the IPO funds for:
- Working capital requirements
- Investment in its subsidiary
- Partial repayment/prepayment of borrowings
- General corporate purposes and issue-related expenses
Post-Issue Capital Structure
Post-IPO:
- Net worth will increase from ₹30.76 crore to ₹87.12 crore
- Share capital will rise from ₹9.45 crore to ₹14.14 crore, comprising equity shares of face value ₹1/- each
Promoter shareholding, currently at 99.96%, will reduce to 66.79% post-issue.
Major promoters include Kalandan Mohammed Haris, Kalandan Mohammed Althaf, Kalandan Mohammad Arif, Abid Ali, Bibi Hajira, and Mohammed Sahim Haris.
Industry Tailwinds
Shipwaves operates within two rapidly expanding sectors:
- India’s logistics market, projected to reach US$ 591 billion by FY27
- India’s SaaS market, expected to grow to US$ 50 billion by 2030
These trends provide significant growth momentum for Shipwaves’ hybrid logistics + SaaS business model.
IPO Intermediaries
- Lead Manager: Finshore Management Services Pvt Ltd
- Registrar: Cameo Corporate Services Ltd
- Market Maker: Anant Securities
Listing
Following the issue, the equity shares of face value ₹1/- each will be listed on the BSE SME platform.
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