Shipwaves Online Ltd is launching a ₹56.35 crore IPO on Dec 10–12, 2025, to fund growth and reduce debt.

Shipwaves Online Ltd, a Mangalore-based logistics-tech firm, is launching an INR 56.35 crore IPO on the BSE SME platform, opening December 10 and closing December 12, 2025. The company will issue 4.69 crore shares at ₹12 each, leading to a 33.19% ownership dilution. It reported strong growth, with FY25 revenue at ₹108.28 crore and PAT nearly doubling to ₹10.83 crore. Proceeds will fund working capital, debt repayment, and subsidiary investments. Post-IPO, net worth is expected to reach ₹87.12 crore, with promoter stake dropping to 66.79%. The IPO is managed by Finshore Management Services, with Cameo Corporate Services as registrar and Anant Securities as market maker.