Blog
Planify Feed
Shipwaves Online Limited IPO Analysis
  • news

    Shipwaves Online Limited IPO Analysis

    12 December 2025

    Shipwaves is hitting the public markets with an IPO of ₹56.35 crore, and it’s not your usual logistics story — this is a freight-forwarder trying to reinvent itself as a tech-first, asset-light logistics platform.


    Let's explore this further:

    Parameter

    Details

    Issue Type

    100% Fresh Issue 

    Issue Size

    INR 56.35 Crores

    Price Band

    INR 12 per share

    Lot Size

    10,000 shares

    Net Issue

    4,46,10,000 Shares

    Listing Platform

    BSE SME

    Issue Opens

    December 10, 2025

    Issue Closes

    December 12, 2025

    Listing Date

    December 17, 2025


    Before the Deep Dive: What’s Working — and What Isn’t


    Strengths

    Risks

    Asset-light model with expanding SaaS revenue

    High revenue volatility across years

    Strong margins vs. peers 

    Rising debt and long cash conversion cycle

    Growing international footprint (UAE, US)

    High customer concentration risk

    Tech-led platform improving visibility & efficiency

    Promoter group lacks deep logistics/SaaS expertise

    Diversifying beyond ocean freight

    Small scale vs. listed peers limits stability

    Improving EBITDA margin trajectory

    Moat is shallow; forwarding business is easily replicable

    Now that you’ve seen the snapshot, let’s unpack the full story behind these numbers and understand the business in context.



    India’s Logistics Upgrade: Where Freight Meets the Future

    India’s logistics space is finally getting its long-overdue glow-up. What used to be a messy, road-heavy system is now a US$435 billion market on track to hit US$591 billion by FY27, thanks to rising trade and a serious push toward digitisation. Government initiatives, e-way bills, dedicated freight corridors, and those massive multimodal parks are basically changing the way of how goods move across the country.

    On the tech side, the momentum’s even stronger. India’s SaaS scene is racing toward a US$50 billion market by 2030, with AI and cloud tools becoming the new default for supply-chain teams that want real visibility instead of spreadsheets and guesswork.

    What this really means is India is shifting from old-school, fragmented freight operations to smarter, connected logistics. And honestly, companies playing at the intersection of freight + software are stepping into one of the best tailwinds the sector has seen in years.

    Powered by Froala Editor

    Stay Connected, Stay Informed –

    Join Our

    WhatsApp

    Channel!

    Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.