Waterways Leisure Tourism IPO: The initial public offering (IPO) of ocean cruise operator Waterways Leisure Tourism Ltd entered its final day of bidding today and has received a subdued response from investors.
The IPO, which opened for public subscription on June 23, consists entirely of a fresh issue of shares aggregating to ₹585 crore, with no offer-for-sale (OFS) component. Prior to the issue opening, the company secured ₹263.25 crore from anchor investors.
The price band for the offering has been set at ₹769– ₹808 per share. Investors can place their bids in lots of 18 shares, requiring a minimum investment of ₹14,544 for retail investors.
Centrum Broking Ltd. has been appointed as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is serving as the registrar to the IPO.
The basis of allotment for the Waterways Leisure Tourism IPO is likely to be finalized on June 29. The company’s shares are scheduled to be listed on both the NSE and BSE, with the tentative listing date set for July 1.
Waterways Leisure Tourism IPO subscription status
Waterways Leisure Tourism IPO has been subscribed 69% so far till 11:25 AM on June 25, the third day of the bidding process, according to BSE data.
The public issue is booked 3 times in the Retail Individual Investors category, and 51% in the Non-Institutional Investors (NII) segment so far. The Qualified Institutional Buyers (QIB) are yet to bid for the issue.
Waterways Leisure Tourism IPO GMP today
Shares of Waterways Leisure Tourism are attracting a modest grey market premium (GMP) in the unofficial market. As per platforms monitoring grey market activity, the IPO’s GMP stands at ₹5 per share today, suggesting that the stock is trading ₹5 above its issue price in the grey market.
Based on the current GMP, the estimated listing price for Waterways Leisure Tourism shares is around ₹813 apiece, reflecting a premium of approximately 0.62% over the IPO price of ₹808 per share.
Waterways Leisure Tourism IPO: Should you apply or not?
Brokerage firm Swastika Investmart has given ‘neutral’ rating to the Waterways Leisure Tourism IPO, saying that the enjoys a strong position in India’s fast-growing cruise tourism market. The business has maintained healthy occupancy levels and strong passenger demand, reflecting growing acceptance of cruise tourism in India.
“While the company has turned profitable, EBITDA margins have declined recently and the business remains exposed to fuel costs, occupancy fluctuations, and operational disruptions.
At around 101x P/E, the IPO appears aggressively priced. Despite strong industry tailwinds and growth potential, the valuation leaves limited margin of safety. We assign a NEUTRAL rating—suitable for long-term investors, but not particularly attractive for listing gains,” the brokerage firm said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
