The last day for Cordelia Cruises operator Waterways Leisure Tourism Ltd.'s Initial Public Offering (IPO) is today, June 25. The company on Monday raised Rs 263.25 crore from anchor investors just a day before the opening of its maiden public offering.
Waterways Leisure Tourism has fixed a price band of Rs 769-808 per share for its Rs 585-crore IPO. The issue is entirely a fresh issue of shares with no offer-for-sale (OFS) component.
As per the circular available on the Bombay Stock Exchange (BSE), Waterways Leisure Tourism allotted 32.58 lakh equity shares to eight anchor investors at Rs 808 apiece, aggregating the transaction size to Rs 263.25 crore.
Baroda BNP Paribas Mutual Fund, Cullinan Opportunities Fund, Zeal Global Opportunities Fund, M7 Global Fund, Nova Global Opportunities Fund, Stellar Growth Fund, ASAS Global Fund and Maybank Securities are among the anchor investors, according to a circular uploaded on the BSE's website.
Centrum Broking is the sole book-running lead manager to the issue, while MUFG Intime India is the registrar.
Waterways Leisure Tourism IPO Day Three Subscription Status
The Waterways Leisure Tourism IPO has been booked 69% as of 11:20 am
Qualified Institutional Buyers: 0 times
Non Institutional Investors: 0.51 times
Retail Individual Investors: 3 times
Employee Reserved: 0
Waterways Leisure Tourism IPO Day Two Subscription Status
The initial public offer of Cordelia Cruises operator Waterways Leisure Tourism Ltd got subscribed 51% on the second day of the share sale on Wednesday. The company's IPO received bids for 21,42,270 shares against 41,84,004 shares on offer, as per data available with the NSE. The portion for retail investors attracted 2.34 times the subscription. The category for non-institutional investors received 32% subscription.
Waterways Leisure Tourism IPO GMP
The grey market premium (GMP) for Waterways Leisure Tourism IPO is Rs 5 as of June 25, 2026, 11:15 am. With a price band of Rs 808, the estimated listing price is Rs 813 The expected gain per share is 0.62% per share.
Note: GMP does not represent official data and is based on speculation.
Waterways Leisure Tourism Financials
The company plans to utilise the proceeds towards lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd, and for general corporate purposes.
About The Company
Waterways Leisure Tourism, operating under the Cordelia Cruises brand, is India's only domestic ocean cruise operator, offering multi-day itineraries along the Indian coastline and neighbouring international destinations aboard its vessel MV Empress, a 2,005-guest capacity ship with 796 cabins.
Incorporated in 2020 and operational since September 2021, the company has rapidly established itself as the category creator in Indian ocean cruising, commanding approximately 79% market share in value terms as of FY25. Its customer base spans leisure travellers, MICE corporates, destination weddings, and school groups, a diversified demand mix that has supported average ticket prices of Rs 10,980 per passenger and revenue per passenger per day (APD) of Rs 12,036 in FY26.
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