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Awaiting price reaction for this filing.
Shipwaves Online Ltd has filed a quarterly statement confirming that there is no deviation or variation in the use of proceeds from its recent IPO, which raised Rs. 56.35 crore (allotment on Dec 15, 2025; listing on Dec 17, 2025). Out of the five stated objects, funds for working capital (Rs. 17.13 crore), general corporate purposes (Rs. 8.45 crore), and issue expenses (Rs. 5.77 crore) have been fully utilised. However, only Rs. 2.45 crore out of the Rs. 10 crore earmarked for investment in the subsidiary and just Rs. 2.50 crore out of the Rs. 15 crore allocated for repayment/pre-payment of borrowings have been deployed so far. CARE Ratings Limited acted as the Monitoring Agency and the Audit Committee reviewed and approved the statement on Feb 14, 2026.
This is a routine compliance disclosure confirming IPO funds are being used as stated in the prospectus, which is a positive governance signal for a recently listed stock. Investors should note that about Rs. 20 crore (roughly 36% of the issue size) for subsidiary funding and loan repayment is yet to be deployed, which is normal in early post-IPO quarters.