Shipwaves Online IPO sees steady traction on second day of bidding

Investor interest in Shipwaves Online continued to build as the IPO was subscribed 66% by late morning on Day 2 of bidding. The issue, open from December 10 to December 12 at a fixed price of Rs 12 per share, saw strong retail demand with over 100% subscription, while NII participation remained modest. Shipwaves operates in the digital freight forwarding and logistics technology space and reported 12% revenue growth and a near doubling of profit in FY25, supporting measured optimism around the offering.