Shipwaves Online Limited Submits Q3FY26 IPO Proceeds Monitoring Report to BSE
Shipwaves Online Limited Submits Q3FY26 IPO Proceeds Monitoring Report to BSE is drawing significant interest across the industry.
Shipwaves Online Limited submitted its Q3FY26 monitoring agency report to BSE, showing utilization of ?36.29 crore from its ?56.35 crore IPO proceeds. The company fully utilized funds for working capital (?17.13 crore) and general corporate expenses (?8.45 crore), while partially using allocations for subsidiary investment (?2.45 crore of ?10.00 crore) and debt repayment (?2.50 crore of ?15.00 crore). The remaining ?20.06 crore is deployed in fixed deposits and bank accounts. CARE Ratings noted concerns about fund commingling and missing board approvals, while highlighting a 40% decline in share price to ?7.22 per share.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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