{"id":130196,"date":"2026-06-25T03:00:00","date_gmt":"2026-06-24T21:30:00","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=130196"},"modified":"2026-06-24T18:39:59","modified_gmt":"2026-06-24T13:09:59","slug":"waterways-leisure-tourism-ipo-gmp-day-3-subscription","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/","title":{"rendered":"Waterways Leisure Tourism IPO GMP Day 3: Price Rs 769-808, GMP Rs 6-12 Cordelia Cruises Closes Subscription Today"},"content":{"rendered":"<div class=\"meta-block\">\u00a0<\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Waterways Leisure Tourism IPO Day 3: Rs 769-808. GMP Rs 6-12 (+1%). Issue Rs 585 Cr. BSE+NSE. Closes today. MV Empress, 796 cabins. 79% share. FY26 PAT Rs 52 Cr. Lot 18 = Rs 14,544.<\/em><\/p>\n<p>Today is the final day of subscription for the Waterways Leisure Tourism IPO, which is the maiden public offering of Cordelia Cruises, India&#8217;s dominant domestic ocean cruise operator. The Waterways Leisure Tourism IPO GMP today has fallen to approximately Rs 6-12, implying a very modest estimated listing premium of approximately 1% over the upper price band of Rs 808. This represents a significant decline from the peak GMP of Rs 54 recorded in mid-June, well before the subscription opened. The narrowing Waterways Leisure Tourism IPO GMP reflects the mixed investor response to India&#8217;s first major cruise company listing: while the brand story is compelling and the long-term growth potential of domestic cruise tourism is acknowledged, investors have shown caution about the high valuation (approximately 101x trailing earnings), the 69% year-on-year decline in FY26 PAT, falling occupancy rates, and the near-total dependence on a single vessel (MV Empress). Ankit Jaiswal, Senior Research Analyst at Univest notes that Day 1 subscription was only 0.04 times overall, a very weak initial response for a mainboard issue of this size and profile.<\/p>\n<p>The Waterways Leisure Tourism IPO raises Rs 585 crore through a 100% fresh issue of equity shares at Rs 769 to Rs 808 per share, with a lot size of just 18 shares (minimum investment Rs 14,544). The company raised Rs 263.25 crore from 11 anchor investors at Rs 808 per share on recently, with foreign portfolio investors dominating the anchor book (Nova Global, Cullinan Opportunities, Zeal Global, and M7 Global each receiving approximately 19% allocation) and Baroda BNP Paribas Mutual Fund as the sole domestic MF participant at 7.60%. The use of Waterways Leisure Tourism IPO proceeds is concentrated on lease-related payments through its subsidiary Baycruise Shipping and Leasing (IFSC) Pvt Ltd (approximately Rs 552.53 crore), with the remainder for general corporate purposes. This structure means most of the capital funds leased cruise capacity rather than owned vessel assets.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=waterways-leisure-tourism-ipo-gmp-day-3-subscription\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Waterways_Leisure_Tourism_IPO_Key_Details\" title=\"Waterways Leisure Tourism IPO Key Details\">Waterways Leisure Tourism IPO Key Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Waterways_Leisure_Tourism_Cordelia_Cruises_Business\" title=\"Waterways Leisure Tourism: Cordelia Cruises Business\">Waterways Leisure Tourism: Cordelia Cruises Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Waterways_Leisure_Tourism_IPO_Key_Financial_and_Valuation_Concerns\" title=\"Waterways Leisure Tourism IPO: Key Financial and Valuation Concerns\">Waterways Leisure Tourism IPO: Key Financial and Valuation Concerns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Conclusion_Waterways_Leisure_Tourism_IPO_GMP_Day_3\" title=\"Conclusion: Waterways Leisure Tourism IPO GMP Day 3\">Conclusion: Waterways Leisure Tourism IPO GMP Day 3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#What_is_Waterways_Leisure_Tourism_IPO_GMP_today\" title=\"What is Waterways Leisure Tourism IPO GMP today?\">What is Waterways Leisure Tourism IPO GMP today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#What_is_Cordelia_Cruises_and_Waterways_Leisure_Tourism\" title=\"What is Cordelia Cruises and Waterways Leisure Tourism?\">What is Cordelia Cruises and Waterways Leisure Tourism?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#What_is_the_Waterways_Leisure_Tourism_IPO_price_band\" title=\"What is the Waterways Leisure Tourism IPO price band?\">What is the Waterways Leisure Tourism IPO price band?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Why_did_Waterways_Leisure_Tourism_IPO_GMP_fall\" title=\"Why did Waterways Leisure Tourism IPO GMP fall?\">Why did Waterways Leisure Tourism IPO GMP fall?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#What_are_Waterways_Leisure_Tourism_IPO_financials\" title=\"What are Waterways Leisure Tourism IPO financials?\">What are Waterways Leisure Tourism IPO financials?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#When_is_Waterways_Leisure_Tourism_IPO_listing\" title=\"When is Waterways Leisure Tourism IPO listing?\">When is Waterways Leisure Tourism IPO listing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#What_is_the_Waterways_Leisure_Tourism_IPO_use_of_proceeds\" title=\"What is the Waterways Leisure Tourism IPO use of proceeds?\">What is the Waterways Leisure Tourism IPO use of proceeds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-gmp-day-3-subscription\/#Should_I_apply_for_Waterways_Leisure_Tourism_IPO\" title=\"Should I apply for Waterways Leisure Tourism IPO?\">Should I apply for Waterways Leisure Tourism IPO?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Waterways_Leisure_Tourism_IPO_Key_Details\"><\/span><strong>Waterways Leisure Tourism IPO Key Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Parameter<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Waterways Leisure Tourism IPO Price Band<\/td>\n<td>Rs 769 to Rs 808 per share<\/td>\n<\/tr>\n<tr>\n<td>Issue Size<\/td>\n<td>Rs 585 crore (100% fresh issue)<\/td>\n<\/tr>\n<tr>\n<td>Waterways Leisure Tourism IPO GMP Day 3<\/td>\n<td>Rs 6-12 (+1%, est. listing ~Rs 814-820)<\/td>\n<\/tr>\n<tr>\n<td>GMP Peak (mid-June, pre-subscription)<\/td>\n<td>Rs 54<\/td>\n<\/tr>\n<tr>\n<td>Day 1 Subscription<\/td>\n<td>0.04x overall (very weak early demand)<\/td>\n<\/tr>\n<tr>\n<td>Lot Size<\/td>\n<td>18 shares (min retail: 18 shares at Rs 14,544)<\/td>\n<\/tr>\n<tr>\n<td>Waterways Leisure Tourism IPO Close Date<\/td>\n<td>Today (final day)<\/td>\n<\/tr>\n<tr>\n<td>Allotment Date<\/td>\n<td>recently<\/td>\n<\/tr>\n<tr>\n<td>Listing Exchange<\/td>\n<td>BSE and NSE (mainboard)<\/td>\n<\/tr>\n<tr>\n<td>Listing Date (tentative)<\/td>\n<td>recently<\/td>\n<\/tr>\n<tr>\n<td>Lead Managers<\/td>\n<td>Centrum Broking, Intensive Fiscal Services, Motilal Oswal Investment Advisors<\/td>\n<\/tr>\n<tr>\n<td>Anchor Investors<\/td>\n<td>Rs 263.25 Cr from 11 investors , Nova Global, Cullinan, Zeal Global, M7 Global, Baroda BNP Paribas MF<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Waterways_Leisure_Tourism_Cordelia_Cruises_Business\"><\/span><strong>Waterways Leisure Tourism: Cordelia Cruises Business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track Waterways Leisure Tourism IPO on Univest Screener<\/strong><\/a><\/p>\n<p>Waterways Leisure Tourism Limited was incorporated in recently20 and operates under the Cordelia Cruises brand, which holds approximately 79% market share by value in India&#8217;s domestic ocean cruise industry as of the recently concluded fiscal year. The company is described as India&#8217;s only premium domestic ocean cruise operator with a distinctly Indian experience combining culture, cuisine, entertainment, and hospitality. The Waterways Leisure Tourism IPO gives investors access to what the company describes as a pioneering position in India&#8217;s nascent but growing cruise tourism sector. The company operates MV Empress, a cruise vessel with 796 cabins (including suites, ocean-view, and interior staterooms) accommodating over 2,000 guests per voyage, with itineraries covering Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, Puducherry, and select international destinations including Sri Lanka, Thailand, Singapore, and Malaysia. As of recently26, over 730,000 guests had sailed on Cordelia cruises covering more than 321,000 nautical miles. The company follows an asset-light model outsourcing food and beverage, housekeeping, crewing, and entertainment services.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Waterways_Leisure_Tourism_IPO_Key_Financial_and_Valuation_Concerns\"><\/span><strong>Waterways Leisure Tourism IPO: Key Financial and Valuation Concerns<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Waterways Leisure Tourism IPO valuation has generated significant debate. Revenue in the recently concluded year declined approximately 2% from the prior year, and PAT fell approximately 69% from Rs 168 crore in the prior year to approximately Rs 52 crore in the current year. Despite this sharp profit decline, the Waterways Leisure Tourism IPO is priced at approximately 101 times trailing earnings, which is steep for a company whose profitability fell sharply. The company plans to expand its fleet with the Norwegian Sky and Norwegian Sun vessels, which could provide long-term revenue growth, but also adds capital commitment and execution risk. The near-total dependence on leased capacity (IPO proceeds primarily fund lease payments) rather than owned vessel assets is another risk factor investors are weighing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Waterways_Leisure_Tourism_IPO_GMP_Day_3\"><\/span><strong>Conclusion: Waterways Leisure Tourism IPO GMP Day 3<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Waterways Leisure Tourism IPO closes today with GMP declining to Rs 6-12 from a peak of Rs 54. Day 1 subscription of 0.04x was weak; Day 3 QIB participation will be the critical factor to watch for listing expectations. Allotment is expected recently and listing recently. Track Waterways Leisure Tourism IPO subscription and GMP on Univest. Consult a SEBI-registered financial advisor before investing in any mainboard IPO.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Waterways Leisure Tourism IPO subscription and all IPOs on Univest.<\/em><\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> IPO GMP data is sourced from unofficial grey market sources and is not regulated by SEBI. GMP does not guarantee listing gains. All IPO details sourced from official SEBI filings, BSE\/NSE. Investments in IPOs are subject to market risk. This article is for educational purposes only and does not constitute investment advice from Univest (SEBI RA INH000013776). Read all IPO documents carefully before investing. Consult a SEBI-registered financial advisor.<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Waterways_Leisure_Tourism_IPO_GMP_today\"><\/span><strong>What is Waterways Leisure Tourism IPO GMP today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Waterways Leisure Tourism IPO GMP is approximately Rs 6-12 today, Day 3 and the final subscription day. This implies an estimated listing price of approximately Rs 814-820, a modest premium of about 1% over the upper band of Rs 808. This is significantly down from the peak GMP of Rs 54 recorded in mid-June before the subscription opened.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Cordelia_Cruises_and_Waterways_Leisure_Tourism\"><\/span><strong>What is Cordelia Cruises and Waterways Leisure Tourism?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Waterways Leisure Tourism Limited is the parent company of Cordelia Cruises, India&#8217;s dominant domestic ocean cruise operator with approximately 79% market share by value. The company operates MV Empress (796 cabins, 2,000+ guest capacity) with itineraries covering Indian coastal cities and select international destinations. Incorporated in recently20, it had over 730,000 guests by recently26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Waterways_Leisure_Tourism_IPO_price_band\"><\/span><strong>What is the Waterways Leisure Tourism IPO price band?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Waterways Leisure Tourism IPO price band is Rs 769 to Rs 808 per share. The lot size is 18 shares and the minimum retail application is 1 lot at Rs 14,544 at the upper price band. For small HNI investors, the minimum is 14 lots (252 shares) at Rs 2,03,616.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_Waterways_Leisure_Tourism_IPO_GMP_fall\"><\/span><strong>Why did Waterways Leisure Tourism IPO GMP fall?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Waterways Leisure Tourism IPO GMP peaked at Rs 54 in mid-June before the subscription and has since fallen to Rs 6-12. The decline reflects investor concern about: FY26 PAT declining approximately 69% year-on-year to approximately Rs 52 crore; high valuation of approximately 101x trailing earnings; revenue that was nearly flat for two consecutive years; dependence on a single vessel (MV Empress); and the Day 1 subscription of only 0.04x.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_Waterways_Leisure_Tourism_IPO_financials\"><\/span><strong>What are Waterways Leisure Tourism IPO financials?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> FY26 PAT was approximately Rs 52 crore, down approximately 69% from Rs 168 crore in the prior year. Revenue was also nearly flat, declining approximately 2% from the prior year. The company plans to add Norwegian Sky and Norwegian Sun vessels to its fleet using future capital. As of recently26, the company had 245 employees.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_is_Waterways_Leisure_Tourism_IPO_listing\"><\/span><strong>When is Waterways Leisure Tourism IPO listing?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Waterways Leisure Tourism IPO lists on both BSE and NSE tentatively on recently. The subscription closes today. Allotment is expected on recently. Registrar is MUFG Intime India Private Limited.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Waterways_Leisure_Tourism_IPO_use_of_proceeds\"><\/span><strong>What is the Waterways Leisure Tourism IPO use of proceeds?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Approximately Rs 552.53 crore of the Rs 585 crore IPO proceeds will be used for lease-related payments through the company&#8217;s subsidiary Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remainder is for general corporate purposes. This means most of the capital funds leased cruise capacity rather than vessel purchases.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_I_apply_for_Waterways_Leisure_Tourism_IPO\"><\/span><strong>Should I apply for Waterways Leisure Tourism IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The declining GMP (from Rs 54 to Rs 6-12), weak Day 1 subscription, falling FY26 profitability, and high valuation at 101x trailing earnings are cautionary signals. However, the company&#8217;s pioneering position in India&#8217;s cruise tourism sector and long-term growth potential are positives. Investors should assess their risk appetite, time horizon, and the final subscription numbers before deciding. Consult a SEBI-registered financial advisor before investing.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is Waterways Leisure Tourism IPO GMP today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Waterways Leisure Tourism IPO GMP is approximately Rs 6-12 today, Day 3 and the final subscription day. This implies an estimated listing price of approximately Rs 814-820, a modest premium of about 1% over the upper band of Rs 808. This is significantly down from the peak GMP of Rs 54 recorded in mid-June before the subscription opened.\"}},{\"@type\":\"Question\",\"name\":\"What is Cordelia Cruises and Waterways Leisure Tourism?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Waterways Leisure Tourism Limited is the parent company of Cordelia Cruises, India's dominant domestic ocean cruise operator with approximately 79% market share by value. The company operates MV Empress (796 cabins, 2,000+ guest capacity) with itineraries covering Indian coastal cities and select international destinations. Incorporated in recently20, it had over 730,000 guests by recently26.\"}},{\"@type\":\"Question\",\"name\":\"What is the Waterways Leisure Tourism IPO price band?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Waterways Leisure Tourism IPO price band is Rs 769 to Rs 808 per share. The lot size is 18 shares and the minimum retail application is 1 lot at Rs 14,544 at the upper price band. For small HNI investors, the minimum is 14 lots (252 shares) at Rs 2,03,616.\"}},{\"@type\":\"Question\",\"name\":\"Why did Waterways Leisure Tourism IPO GMP fall?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Waterways Leisure Tourism IPO GMP peaked at Rs 54 in mid-June before the subscription and has since fallen to Rs 6-12. The decline reflects investor concern about: FY26 PAT declining approximately 69% year-on-year to approximately Rs 52 crore; high valuation of approximately 101x trailing earnings; revenue that was nearly flat for two consecutive years; dependence on a single vessel (MV Empress); and the Day 1 subscription of only 0.04x.\"}},{\"@type\":\"Question\",\"name\":\"What are Waterways Leisure Tourism IPO financials?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"FY26 PAT was approximately Rs 52 crore, down approximately 69% from Rs 168 crore in the prior year. Revenue was also nearly flat, declining approximately 2% from the prior year. The company plans to add Norwegian Sky and Norwegian Sun vessels to its fleet using future capital. As of recently26, the company had 245 employees.\"}},{\"@type\":\"Question\",\"name\":\"When is Waterways Leisure Tourism IPO listing?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Waterways Leisure Tourism IPO lists on both BSE and NSE tentatively on recently. The subscription closes today. Allotment is expected on recently. Registrar is MUFG Intime India Private Limited.\"}},{\"@type\":\"Question\",\"name\":\"What is the Waterways Leisure Tourism IPO use of proceeds?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Approximately Rs 552.53 crore of the Rs 585 crore IPO proceeds will be used for lease-related payments through the company's subsidiary Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remainder is for general corporate purposes. This means most of the capital funds leased cruise capacity rather than vessel purchases.\"}},{\"@type\":\"Question\",\"name\":\"Should I apply for Waterways Leisure Tourism IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The declining GMP (from Rs 54 to Rs 6-12), weak Day 1 subscription, falling FY26 profitability, and high valuation at 101x trailing earnings are cautionary signals. However, the company's pioneering position in India's cruise tourism sector and long-term growth potential are positives. Investors should assess their risk appetite, time horizon, and the final subscription numbers before deciding. Consult a SEBI-registered financial advisor before investing.\"}}]}<\/script><\/div><p><\/p>","protected":false},"excerpt":{"rendered":"<p>Waterways Leisure Tourism IPO GMP Day 3: Price Rs 769-808, GMP Rs 6-12 \u2014 Cordelia Cruises Closes Subscription Today.<\/p>\n","protected":false},"author":34,"featured_media":130242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[4024],"class_list":["post-130196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-ipo-gmp-day-3"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1782306621:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["1281"],"rank_math_seo_score":["76"],"rank_math_title":["Waterways Leisure Tourism IPO GMP Day 3: Price Rs 769-808, GMP Rs 6-12 , Cordelia Cruises Closes Today"],"rank_math_description":["Waterways Leisure Tourism IPO GMP Day 3: price Rs 769-808. 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