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Waterways Leisure Tourism IPO
Price Band
₹769.0–808.0
Issue Size
₹585.0 Cr
Lot Size
18 shares
Min Investment
₹14,544
GMP
₹-51.0 (-6.31%)
Issue Price
₹808.0
Waterways Leisure Tourism IPO AI Summary
- Waterways Leisure Tourism IPO is listed on BSE, NSE in the Tour, Travel Related Services sector.
- Price band: ₹769.0–₹808.0 per share, lot size 18 shares (min. investment ₹14,544).
- Subscription window: 23 Jun–25 Jun 2026, listing on 01 Jul 2026.
- Current GMP is ₹-51.0 (-6.31%), an estimated listing price of ₹757 — unofficial and can change daily.
Waterways Leisure Tourism is set to enter the market with its IPO, focusing on cruise tourism in India. While it has shown growth in total income and a notable presence in the cruise sector, recent profitability trends and high debt levels may concern potential investors.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
1.53x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
0.72x
|
0.72x |
| NII (HNI) |
1.23x
|
1.23x |
| ↳ bNII (>₹10L) |
0.94x
|
0.94x |
| ↳ sNII (<₹10L) |
1.83x
|
1.83x |
| Retail (RII) |
4.40x
|
4.40x |
| Total | 1.53x | 1.53x |
Auto-updated every 5 min · As of 25th Jun 2026 18:56
Waterways Leisure Tourism IPO Grey Market Premium (GMP) Today
GMP
₹-51.0
GMP %
-6.31%
Est. Listing
₹757.0
Updated: 14 Jul 2026 15:51
GMP Trend (Last 7 Days)
About the Company
Waterways leisure tourism operates in cruise tourism and hospitality under its flagship brand Cordelia Cruises — India’s only premium cruise line. It currently operates "MV Express" cruise vessel, primarily sails to domestic destinations like Mumbai (Maharashtra), Goa, Kochi (Kerala), Chennai (Tamil Nadu), Lakshadweep, Visakhapatnam (Andhra Pradesh), and Puducherry. It 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). WLTPL offers a vibrant cruise culture, blending international standards with Indian tastes — spanning across cuisine, hospitality, entertainment, etc. Competitive strengths Pioneer and well-positioned in the ocean cruise tourism in India India-focused cruise experience with diverse amenities Significant direct bookings optimizing margins Outsourced critical cruise operations for efficiency and scalability Seasoned management team delivering financial growth
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 341.78 | 247.37 | 399.20 |
| Total Income | 586.99 | 597.68 | 452.15 |
| Profit After Tax | 52.14 | 168.19 | -122.73 |
| EBITDA | 117.48 | 215.46 | 111.15 |
| NET Worth | 80.20 | 32.78 | -118.07 |
| Reserves and Surplus | 15.05 | -31.90 | -182.75 |
| Total Borrowing | 101.90 | 30.44 | 5.18 |
Key Ratios
EPS
₹8.00
NAV
₹12.31
ROE
0.92%
ROCE
1.14%
RoNW
92.70%
P/B Value
65.64
P/E Ratio
100.96
Market Cap
₹5849.48 Cr
PAT Margin
0.09%
Debt/Equity
1.27
Promoters
Global Shipping & Leisure Ltd. and Rajesh Chandumal Hotwani
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Payment towards deposit/ advanced lease rental and monthly lease payments to stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt.Ltd. (Baycruise IFSC). 480.01 2 General Corporate Purposes 76.63 3 Issue Expenses 28.36 Total 585.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹452.15 Cr in the year ending 31 Mar 2024, increasing to ₹597.68 Cr by 31 Mar 2025, before slightly declining to ₹586.99 Cr in the year ending 31 Mar 2026.
Profit Trend
Profit After Tax was -₹122.73 Cr for the year ending 31 Mar 2024, improving to ₹168.19 Cr by 31 Mar 2025, but then decreasing to ₹52.14 Cr in the year ending 31 Mar 2026.
Key Risks
Investors should consider the company's reliance on the cruise tourism sector, which can be affected by economic conditions and travel restrictions. Additionally, the company's recent profitability trends raise concerns about financial stability.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the expected listing price of an IPO in the unregulated market before it officially lists. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand.
Subscription Demand
As of 25th June 2026, the IPO was subscribed 1.53 times overall, with retail investors showing strong interest at 4.4 times, while Qualified Institutional Buyers (QIBs) subscribed at 0.72 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential and market trends in the tourism sector.
Who May Want to Wait
Investors who are risk-averse or uncomfortable with the uncertainties in the cruise tourism industry may want to consider avoiding this IPO.
IPO Timeline, Explained
The IPO opens on 23rd June 2026 and closes on 25th June 2026, with allotment expected by 29th June 2026 and listing on the stock exchange on 1st July 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market conditions, investor sentiment, and overall demand for the stock. It’s important to consider these factors when evaluating potential listing gains.
This evaluation is generated from Waterways Leisure Tourism's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Waterways Leisure Tourism IPO GMP today?
Waterways Leisure Tourism IPO GMP today is ₹-51.0 (-6.31%), indicating an estimated listing price of ₹757. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Waterways Leisure Tourism IPO?
The price band of Waterways Leisure Tourism IPO is ₹769.0–₹808.0 per share.
When does Waterways Leisure Tourism IPO open and close?
Waterways Leisure Tourism IPO opens on 23 June 2026 and closes on 25 June 2026.
When does Waterways Leisure Tourism IPO list on the stock exchange?
Waterways Leisure Tourism IPO listed on 01 July 2026 at ₹757.0.
What is the lot size for Waterways Leisure Tourism IPO?
The lot size for Waterways Leisure Tourism IPO is 18 shares, requiring a minimum investment of ₹14,544.
What is the price band for the Waterways Leisure Tourism IPO?
The price band for the IPO is ₹769.0 to ₹808.0.
What is the minimum investment required for this IPO?
The minimum investment required is ₹14,544.0.
When is the listing date for the IPO?
The listing date for the IPO is 1st July 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the stock on its listing day.
What is the lot size for this IPO?
The lot size for the IPO is 18 shares.
Issue Details
Investor Allocation
Registrar
Anchor Investors
₹83.2 Cr
Total allocated
Anchor allocation date: 23 Jun 2026
GIC Re
SBI Life Insurance
Bandhan Mutual Fund
Tata Mutual Fund
Franklin Templeton MF
⚠️ Lock-in: 50% of anchor shares unlock 30 days after listing. Watch for selling pressure around that date.
Lead Managers / Book Running
IPO Timeline
Open
23 Jun 2026
Close
25 Jun 2026
Allotment
29 Jun 2026
Listing
01 Jul 2026
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