Mumbai, Dec. 17 -- The scrip was listed at Rs 12, matching the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 12 and a low of Rs 11.40. About 26.30 lakh shares of the company changed hands at the counter.

Shipwaves Online's IPO was subscribed 1.61 times. The issue opened for bidding on 10 December 2025 and it closed on 12 December 2025. The price of the IPO was fixed at Rs 12 per share.

The IPO comprised fresh issue of 4,69,60,000 equity shares. The promoter and promoter group shareholding diluted to 66.79% from 99.96% pre-issue.

The company intends to utilize the net proceeds to meet working capital requirements, investment in subsidiary fo...