Shipwaves Online Limited has filed a statement of deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). For the half-year ended 30th September 2026, the company reported an overutilization of ₹2,86,100 towards working capital requirements. This was offset by a corresponding shortfall of the same amount under the object of ‘Investment in subsidiary for funding its working capital requirements. The Audit Committee has reviewed the deviation and deemed it not material.
Statement of Fund Utilization Deviation Filed
Shipwaves Online Limited has officially submitted a statement detailing deviations or variations in the utilization of funds raised via its Initial Public Offer (IPO). This disclosure pertains to the financial period ending 30th September 2026.
Details of Deviation
The company incurred an additional expenditure of ₹2,86,100 towards working capital requirements during the first quarter of FY27 (Q1 FY27). This resulted in an overutilization of funds for this specific object by the same amount. Concurrently, there was a shortfall of ₹2,86,100 under the object designated for ‘Investment in subsidiary for funding its working capital requirements’.
Audit Committee Review
The Audit Committee of Shipwaves Online Limited has reviewed this deviation. They noted the utilization of the additional amount for working capital and confirmed that the overutilization, though present, is not material to the company’s overall financial standing.
Fund Raising Details
The IPO was raised through a Public Issue, with the allotment date recorded as 15th December 2025 and the listing date as 17th December 2025. The total amount raised was ₹56,35,20,000.
Source: BSE
