Shipwaves Online Ltd Sets Sail with Rs 56.3-Crore IPO

Shipwaves Online Ltd, a Mangaluru-based shipment solutions provider, is launching a Rs 56.3-crore IPO on December 10, closing on December 12. The offering will consist entirely of fresh equity shares priced at Rs 12 each. Proceeds will fund working capital, debt repayment, and other expenses.

Mangaluru-based Shipwaves Online Ltd, an end-to-end shipment solutions provider, announced the opening of its Rs 56.3-crore initial public offering (IPO) on December 10. The subscription period will conclude on December 12, with shares priced at Rs 12 each.

The IPO presents a fresh issuance of over 4.69 crore equity shares, culminating in a total worth of Rs 56.35 crore. The proceeds will bolster the company's working capital, facilitate subsidiary investments, repay debts, and cover general corporate expenses.

Established in 2015, Shipwaves Online extends a seamless logistics platform spanning ocean, land, and air transportation, operating in digital freight forwarding and an AI-driven SaaS division. The shares are set to list on the BSE SME platform on December 17, with Finshore Management Services and Cameo Corporate Services Ltd managing the IPO.

(With inputs from agencies.)