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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