Waterways Leisure Tourism IPO: Issue Fully Booked On Last Day of Subscription, GMP Hints At Tepid Debut

The bidding period for the initial public offering (IPO) of Waterways Leisure Tourism is set to conclude today, on June 25. The public issue of Waterways Leisure Tourism has been fully subscribed on the final day of subscription.

The grey market premium (GMP) for the cruise tourism firm's equity indicates a subdued debut on the stock exchanges. Here is an overview of the key details related to the cruise operator’s public offering:

Waterways Leisure Tourism IPO GMP

Demand for Waterways Leisure Tourism’s shares remained weak in the grey market. The grey market premium (GMP) continued to stay low on the last day of the subscription window. As per websites tracking the unofficial market for unlisted equities, the premium for the domestic cruise operator’s shares remained between Rs 0 and Rs 2.5 per share. Consequently, the shares of Waterways Leisure Tourism are anticipated to list with marginal gains of 0.31 per cent, given the modest demand.

Waterways Leisure Tourism IPO Subscription On Day 3

Towards the end of the third bidding day, the Waterways Leisure Tourism IPO achieved a subscription of 1.30 times. Overall, the cruise operator's offering garnered bids for 5.44 million shares against the 4.18 million shares available for bidding cumulatively.

Retail participants oversubscribed their allocation 3.84 times, placing bids for 2.92 million shares against the 7,60,728 million shares earmarked for the category.

Qualified institutional buyers (QIBs) subscribed to the issue 60 per cent. The QIB category received bids for 1.37 million shares compared to the 2.28 million shares exclusively reserved for them.

The non-institutional investors (NII) portion of the Waterways Leisure Tourism IPO was subscribed 100 per cent. NIIs submitted bids for 1.14 million shares against the 1.14 million shares set aside for their category.

Waterways Leisure Tourism IPO Issue Size

Through this public offering, Waterways Leisure Tourism aims to generate Rs 585 crore. The public issue of the premium cruise line operator consists of a fresh issuance of 7.24 million shares, with no offer for sale component.

Waterways Leisure Tourism IPO Price Band

The price band for the Waterways Leisure Tourism IPO was fixed at Rs 769 and Rs 808 per equity share. Retail investors were required to bid for a minimum lot of 18 shares, translating to a minimum investment of Rs 14,544.

Waterways Leisure Tourism IPO: Subscription Dates and Listing Date

The application window for the Waterways Leisure Tourism IPO opened on June 23 and is set to conclude on June 25. The basis of allotment for the shares will be finalised on June 29. The company is set to initiate refunds for applicants who do not receive shares on June 30. The equity shares of Waterways Leisure Tourism are slated to debut on the stock exchanges on July 1.

Waterways Leisure Tourism: Financials

For the fiscal year ended March 31, 2026, Waterways Leisure Tourism reported a total income of Rs 586.99 crore, dipping by nearly 2 per cent compared to Rs 597.68 crore in the preceding fiscal. The cruise operator’s net profit more than halved in FY26 as it fell to Rs 52.14 crore compared to Rs 168.19 crore in FY25, indicating a decline of nearly 69 per cent year-on-year. The networth of the company grew by over 144 per cent to Rs 80.2 crore compared to Rs 32.78 crore in the preceding fiscal.

Waterways Leisure Tourism IPO: Registrar

MUFG Intime India Pvt. Ltd. has been appointed as the official registrar for the Waterways Leisure Tourism IPO, while Centrum Broking is serving as the book-running lead manager for the offering.

Waterways Leisure Tourism: Promoters

Prior to the public issue, the promoters of the cruise tourism company held a 99.27 per cent stake in the business. Following the completion of the IPO, their ownership share will be diluted to 89.35 per cent. The promoters of the company include Global Shipping and Leisure and Rajesh Chandumal Hotwani.

About Waterways Leisure Tourism

Waterways Leisure Tourism is a domestic cruise operator in India. The company conducts its  business under its flagship brand, Cordelia Cruises. The company is a provider of luxury travel and hospitality services and offers oceanic experiences. Presently, the company operates the MV Empress vessel across several coastal routes.