Shipwaves IPO Crashes on Listing Day, Retail Investors Face 5% Loss

• Shipwaves Online IPO listed on BSE SME at its issue price of ₹12, then immediately dropped to the lower circuit of ₹11.40.
• IPO investors incurred a 5% loss on the first trading day, receiving no listing gain.
• The ₹56.35 crore IPO was subscribed 1.64 times, driven mainly by retail investors (2.92x), while NIIs were undersubscribed.
• Funds raised will be used for new features, working capital, and general corporate purposes.
• Shipwaves Online, a digital freight forwarding and SaaS company, has shown strong financial growth, with net profit rising from ₹2.24 crore (FY23) to ₹12.20 crore (FY25).

Why It Matters: Shipwaves IPO delivered a disappointing debut, listing flat and immediately hitting lower circuit, causing losses for investors.