The initial public offering (IPO) of Waterways Leisure Tourism, the parent company of Cordelia Cruises, will open for subscription on June 23. The Mumbai-based domestic ocean cruise operator is aiming to raise over Rs 580 crore from the primary market.
As subscription for the mainboard issue opens today, investors are keeping a watch on the grey market premium (GMP) to gauge the market sentiment. GMP acts as an indicator of pre-listing demand and estimated listing day gains. Since the grey market is an unofficial channel operating outside regulatory frameworks, this premium functions strictly as a barometer of investor interest rather than a guaranteed opening price.
Here's everything you need to know about the Waterways Leisure Tourism IPO.
Waterways Leisure (Cordelia Cruises) IPO GMP Today
According to InvestorGain, the latest GMP for the Waterways Leisure Tourism IPO was Rs 12 on June 23. It indicates a listing price of Rs 820 apiece at a premium of 1.49% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
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Waterways Leisure (Cordelia Cruises) IPO: Key Details
The Waterways Leisure Tourism IPO is a book build issue of Rs 585 crore, comprising a fresh issue of over 72 lakh shares.
The price band for the Waterways Leisure IPO is set between Rs 769 and Rs 808 per share.
To participate in the IPO, retail investors need to bid for a single lot size of 18 shares, requiring an investment of Rs 14,544. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,03,616. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 69 lots. It will lead to an investment of Rs 10,03,536.
Centrum Broking Ltd. is the book running lead manager and MUFG Intime India Pvt. is the registrar of the issue.
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Waterways Leisure (Cordelia Cruises) IPO: Important Dates
The subscription window for the mainboard issue will remain open till June 25. The share allotment status for the Cordelia Cruises IPO expected to be finalised on June 29. The company will transfer shares to the demat accounts of successful bidders on June 30, and refunds for non-allottees will be done on the same day.
The shares of Waterways Leisure Tourism are scheduled to list on the BSE and NSE on July 1.
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Waterways Leisure (Cordelia Cruises) IPO: Use Of Proceeds
The company plans to channel Rs 480.01 crore towards lease deposit commitments and rental expenses to Baycruise IFSC, a subsidiary of the company. In addition, a share of the gross proceeds will be utilised to meet general corporate purposes.
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About Waterways Leisure Tourism
Waterways Leisure Tourism is one of the country's notable ocean cruise companies, delivering vacation experiences centred on Indian heritage, personalised service, regional cuisine and live entertainment. Cordelia Cruises by Waterways Leisure Tourism Limited (Formally known as Waterways Leisure Tourism Private Limited) is India's premium cruise line.
Their cruise vessel primarily sails to domestic destinations such as Mumbai (Maharashtra), Goa, Kochi (Kerala), Chennai (Tamil Nadu), Lakshadweep, Visakhapatnam (Andhra Pradesh), and Puducherry. We also offer international itineraries, including Hambantota, Trincomalee, and Jaffna (Sri Lanka) and have also sold cruise tickets for our first-time sail to destinations such as Phuket (Thailand), Singapore, Kuala Lumpur and Langkawi (Malaysia).
Financials
The company's revenue from operations decreased 1.84% year-on-year (YoY) to Rs 579.75 crore in FY26 from Rs 590.61 crore in FY25. Profit fell 69% YoY to Rs 52.14 crore in FY26.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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