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PNN
Mangalore (Karnataka) [India], December 6: Shipwaves Online Limited, a Mangalore-based digital freight forwarding and logistics-tech company, has announced the launch of its 56.35 crore Initial Public Offering (IPO) on the BSE SME platform, opening on December 10, 2025, and closing on December 12, 2025. 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. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
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