Shipwaves Online Limited Submits Q3FY26 IPO Proceeds Monitoring Report to BSE
Published on: Feb. 14, 2026, 10:47 p.m. | Source: scanx.trade
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.
