Shipwaves Online Ltd

Shipwaves Online Ltd: Key Updates on IPO Fund Utilization & Future Plans 📊

- IPO raised Rs. 56.35 crore, with Rs. 5.03 crore unutilized as of March 31, 2026.

- Funds utilized: Rs. 17.13 crore (working capital), Rs. 9.97 crore (subsidiary investment), Rs. 10.00 crore (debt repayment), Rs. 8.45 crore (general corporate expenses), Rs. 5.77 crore (issue-related expenses).

- Subsidiary investment of Rs. 7.52 crore in Q4 FY26 included payments to related parties and refund of customer advances.

- Share price at ₹3.31 per share as of March 31, 2026, 72% lower than the issue price.

- Unutilized funds held in fixed deposits and public issue accounts, earning 4.75% return.

- Delays noted in subsidiary investment and debt repayment, with exact periods unascertainable.

- Monitoring Agency confirmed utilized proceeds aligned with specified objects despite commingling concerns.

- Board to address unutilized funds and timeline extension in upcoming meeting, proposing utilization in Q1 and Q2 of FY 2026-27.