Summary of this article
Waterways Leisure Tourism debuted with losses on the exchanges.
The Rs 585 crore IPO comprised fresh equity shares.
Retail portion of the public issue subscribed 4.19 times.
Waterways Leisure Tourism shares made their debut on the NSE and BSE on July 1 with minor losses. Waterways Leisure Tourism shares made their debut on the NSE at Rs 681 apiece, down 15 per cent compared to the issue price of Rs 808 apiece.
On the other hand, Waterways Leisure Tourism shares made their debut on the BSE at Rs 690 apiece, down by 14.64 per cent.
Waterways Leisure Tourism Listing Day Loss
Successful applicants who were allotted a minimum of one lot or 18 shares of Waterways Leisure Tourism would have lost at least Rs 2,286 ((Rs 808 - Rs 681) x 18) once the cruise company’s shares listed on the exchange.
Minutes after Waterways Leisure Tourism shares were listed, 3.13 lakh shares of the company traded hands on the NSE. The Mumbai-based company’s total market capitalisation stood at approximately Rs 5,152.32 crore.
Waterways Leisure Tourism IPO: Offer Size
Waterways Leisure Tourism IPO was worth Rs 585 crore. The cruise operator’s issue consisted entirely of a fresh issuance of 7.2 million shares, with no offer for sale (OFS) component. Waterways Leisure Tourism IPO price band was fixed at Rs 769 to Rs 808 per share.
Waterways Leisure Tourism IPO: Subscription
The minimum lot size for application for retail investors was fixed at 1 lot or 18 shares, which aggregated to an investment of Rs 14,544. Waterways Leisure Tourism IPO was fully subscribed 1.67 times in its subscription period which started on June 23 and ended on June 25. Investors across categories placed bids for over 6.98 million shares compared to the 39.82 million shares offered for public subscription (excluding the anchor portion).
The non-institutional investors (NII) quota of the leisure cruise operator was booked 1.3 times. The Waterways Leisure Tourism IPO was booked 4.19 times in the retail individual investor category. The company’s issue was booked 1.01 times in the Qualified Institutional Buyers (QIB) category.
Waterways Leisure Tourism: Promoters
Waterways Leisure Tourism’s promoters, primarily Global Shipping and Leisure, held a 99.27 per cent stake in the company before the public issue. The promoters will reduce their stake to approximately 89.35 per cent post-IPO.
Waterways Leisure Tourism IPO: Objective
Waterways Leisure Tourism will use the funds raised via the initial public offering for prepayment towards deposit/advanced lease rental and monthly lease payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited, and for general corporate purposes.
At the time of writing, shares of Waterways Leisure Tourism traded at Rs 717.70 apiece, down by 11.03 per cent from the issue price.
