{"id":133697,"date":"2026-06-29T10:54:24","date_gmt":"2026-06-29T05:24:24","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=133697"},"modified":"2026-06-29T10:54:25","modified_gmt":"2026-06-29T05:24:25","slug":"waterways-leisure-tourism-ipo-listing-preview","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-listing-preview\/","title":{"rendered":"Waterways Leisure Tourism IPO Listing Preview: Weak GMP and PAT Decline Signal a Cautious Debut"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Waterways Leisure Tourism IPO listing: GMP Rs 5-6. Subscription 1.72x. Price Rs 769-808. BSE+NSE Mainboard. Issue Rs 585 Cr. PAT fell 69% latest year. Caution advised.<\/em><\/p>\n<p>The Waterways Leisure Tourism IPO listing for Waterways Leisure Tourism is approaching, with the stock set to debut on BSE and NSE Mainboard shortly after allotment. The grey market premium (GMP) for Waterways Leisure Tourism IPO currently stands at Rs 5-6 per share (approximately 0.6-0.7% above the upper price band of Rs 808), implying an estimated listing price of approximately Rs Rs 813-814 (upper band Rs 808 plus GMP of Rs 5-6; near flat listing signalled). Investors who received Waterways Leisure Tourism IPO allotment should review the Waterways Leisure Tourism IPO listing outlook alongside final subscription data and market conditions before deciding on a listing day strategy.<\/p>\n<p>The Waterways Leisure Tourism IPO was priced at Rs Rs 769-808 per share with a lot size of 18 shares shares. The overall subscription at the close of the bidding period was 1.72x overall. Subscription levels are a key indicator of listing day demand, and investors should combine this with the GMP reading for a more complete Waterways Leisure Tourism IPO listing picture.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=waterways-leisure-listing\"><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-listing-preview\/#Waterways_Leisure_Tourism_IPO_Key_Details_Before_Listing\" title=\"Waterways Leisure Tourism IPO: Key Details Before Listing\">Waterways Leisure Tourism IPO: Key Details Before Listing<\/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-listing-preview\/#Waterways_Leisure_Tourism_IPO_GMP_and_Expected_Listing_Price\" title=\"Waterways Leisure Tourism IPO GMP and Expected Listing Price\">Waterways Leisure Tourism IPO GMP and Expected Listing Price<\/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-listing-preview\/#Waterways_Leisure_Tourism_IPO_Subscription_Analysis\" title=\"Waterways Leisure Tourism IPO Subscription: Analysis\">Waterways Leisure Tourism IPO Subscription: Analysis<\/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-listing-preview\/#About_Waterways_Leisure_Tourism\" title=\"About Waterways Leisure Tourism\">About Waterways Leisure Tourism<\/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-listing-preview\/#Key_Risks_to_Watch_on_Waterways_Leisure_Tourism_IPO_Listing_Day\" title=\"Key Risks to Watch on Waterways Leisure Tourism IPO Listing Day\">Key Risks to Watch on Waterways Leisure Tourism IPO Listing Day<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-listing-preview\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-listing-preview\/#Frequently_Asked_Questions_on_Waterways_Leisure_Tourism_IPO_Listing\" title=\"Frequently Asked Questions on Waterways Leisure Tourism IPO Listing\">Frequently Asked Questions on Waterways Leisure Tourism IPO Listing<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/waterways-leisure-tourism-ipo-listing-preview\/#What_is_the_expected_listing_price_for_Waterways_Leisure_Tourism_IPO\" title=\"What is the expected listing price for Waterways Leisure Tourism IPO?\">What is the expected listing price for Waterways Leisure Tourism IPO?<\/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-listing-preview\/#What_was_the_Waterways_Leisure_Tourism_IPO_subscription\" title=\"What was the Waterways Leisure Tourism IPO subscription?\">What was the Waterways Leisure Tourism IPO subscription?<\/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-listing-preview\/#What_happened_to_Waterways_Leisure_Tourisms_profitability\" title=\"What happened to Waterways Leisure Tourism&#8217;s profitability?\">What happened to Waterways Leisure Tourism&#8217;s profitability?<\/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-listing-preview\/#What_is_Cordelia_Cruises_and_its_market_position\" title=\"What is Cordelia Cruises and its market position?\">What is Cordelia Cruises and its market position?<\/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-listing-preview\/#What_should_Waterways_Leisure_Tourism_IPO_allottees_consider_on_listing_day\" title=\"What should Waterways Leisure Tourism IPO allottees consider on listing day?\">What should Waterways Leisure Tourism IPO allottees consider on listing day?<\/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-listing-preview\/#Who_were_the_anchor_investors_in_the_Waterways_Leisure_Tourism_IPO\" title=\"Who were the anchor investors in the Waterways Leisure Tourism IPO?\">Who were the anchor investors in the 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_Before_Listing\"><\/span><strong>Waterways Leisure Tourism IPO: Key Details Before Listing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width: 100%; border-collapse: collapse;\">\n<tbody>\n<tr style=\"background: #00439D; color: #ffffff;\">\n<th style=\"padding: 8px 10px; text-align: left; border: 1px solid #CCC;\">Particulars<\/th>\n<th style=\"padding: 8px 10px; text-align: left; border: 1px solid #CCC;\">Details<\/th>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Issue Size<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Rs 585 crore<\/td>\n<\/tr>\n<tr style=\"background: #F5F7FF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Price Band<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Rs Rs 769-808 per share<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Lot Size<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">18 shares shares<\/td>\n<\/tr>\n<tr style=\"background: #F5F7FF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Minimum Investment (Retail)<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Rs Rs 14,544 (18 shares at upper band)<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Exchange<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">BSE and NSE Mainboard<\/td>\n<\/tr>\n<tr style=\"background: #F5F7FF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Issue Type<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Fresh Issue<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Registrar<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">MUFG Intime India Pvt. Ltd.<\/td>\n<\/tr>\n<tr style=\"background: #F5F7FF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Final GMP (approx.)<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Rs 5-6 per share (approximately 0.6-0.7% above the upper price band of Rs 808)<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Expected Listing Price (approx.)<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">Rs Rs 813-814 (upper band Rs 808 plus GMP of Rs 5-6; near flat listing signalled)<\/td>\n<\/tr>\n<tr style=\"background: #F5F7FF;\">\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\"><strong>Subscription<\/strong><\/td>\n<td style=\"padding: 8px 10px; border: 1px solid #DDD;\">1.72x overall<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Research Waterways Leisure Tourism on Univest Screener Before Listing Day<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Waterways_Leisure_Tourism_IPO_GMP_and_Expected_Listing_Price\"><\/span><strong>Waterways Leisure Tourism IPO GMP and Expected Listing Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Waterways Leisure Tourism IPO GMP of Rs 5-6 (approximately 0.6-0.7%) heading into listing indicates extremely muted grey market enthusiasm. Combined with a subscription of 1.72x and a significant 69% decline in PAT in the most recent financial year, the Waterways Leisure Tourism IPO listing is expected to be flat to marginally above the issue price at best. Some trackers have pointed to a potential discount listing scenario given the fundamental concerns. Investors should approach listing day with significant caution. The Waterways Leisure Tourism IPO listing will ultimately be determined by market demand at the opening bell on listing day. Investors should not anchor expectations entirely to GMP as it is unofficial and can move sharply in either direction based on broader market sentiment on listing day.<\/p>\n<p>A positive grey market premium indicates informal demand above the issue price, while a neutral or negative GMP suggests the market may price the stock near or below the issue price. The final Waterways Leisure Tourism IPO listing performance depends on the opening price on exchange, market depth, and sector-specific sentiment on the day of listing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Waterways_Leisure_Tourism_IPO_Subscription_Analysis\"><\/span><strong>Waterways Leisure Tourism IPO Subscription: Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Waterways Leisure Tourism IPO subscription closed at 1.72x overall. Strong oversubscription, particularly in the QIB and NII categories, typically supports positive listing performance. Weak or borderline subscription suggests that listing day price discovery will depend more heavily on overall market conditions and sector sentiment than on pre-listing demand indicators alone.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_Waterways_Leisure_Tourism\"><\/span><strong>About Waterways Leisure Tourism<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Incorporated in November 2020, Waterways Leisure Tourism Limited is the parent company of Cordelia Cruises, India&#8217;s first and only domestic ocean cruise operator with approximately 79% market share by value in the domestic ocean cruise industry. The company operates the MV Empress cruise ship with 796 cabins and a guest capacity of over 2,000 passengers, covering destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, Puducherry and international ports in Sri Lanka, Thailand, Singapore and Malaysia. Over 730,000 guests had sailed on Cordelia Cruises as of the latest filing period, covering more than 321,000 nautical miles. The company follows an asset-light model, outsourcing food and beverage, crewing, housekeeping and entertainment to specialists. Revenue in its most recent financial year was Rs 586.99 crore, slightly below the previous year&#8217;s Rs 597.68 crore, while profit after tax declined sharply by approximately 69% from Rs 168.19 crore to Rs 52.14 crore in the same period. Eleven anchor investors including Nova Global, Cullinan Opportunities, Zeal Global and M7 Global subscribed to Rs 263.25 crore worth of shares before the public issue.<\/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 listing price live and access research.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Watch_on_Waterways_Leisure_Tourism_IPO_Listing_Day\"><\/span><strong>Key Risks to Watch on Waterways Leisure Tourism IPO Listing Day<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A 69% decline in PAT in the most recently reported financial year against a relatively flat revenue trajectory suggests margin compression and structural cost pressures that will weigh on the post-listing valuation narrative.<\/p>\n<p>The GMP declined from Rs 54 high during pre-subscription to Rs 5-6 ahead of listing, a significant compression that signals cooling of informal demand and possible near-issue-price or below-issue-price opening.<\/p>\n<p>Single-ship dependency on MV Empress creates concentration risk: any operational disruption to the vessel, regulatory change in cruise operations or further capacity saturation could directly and severely impact revenue.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Waterways Leisure Tourism IPO listing for Waterways Leisure Tourism is shaped by its subscription of 1.72x overall and a grey market premium of Rs 5-6 per share (approximately 0.6-0.7% above the upper price band of Rs 808). Investors who received allotment should set a clear listing day strategy: decide in advance whether to hold, partially book profits or exit entirely at the listing price. The estimated listing price based on current GMP is approximately Rs Rs 813-814 (upper band Rs 808 plus GMP of Rs 5-6; near flat listing signalled), but this can differ from the actual opening price on BSE and NSE Mainboard. Consult a SEBI-registered financial advisor before making listing day decisions.<\/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> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776). Grey market premium (GMP) figures are unofficial and unregulated by SEBI and should not be the sole basis for any investment decision.<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Waterways_Leisure_Tourism_IPO_Listing\"><\/span><strong>Frequently Asked Questions on Waterways Leisure Tourism IPO Listing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_expected_listing_price_for_Waterways_Leisure_Tourism_IPO\"><\/span><strong>What is the expected listing price for Waterways Leisure Tourism IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Based on the current grey market premium of Rs 5-6, the Waterways Leisure Tourism IPO is expected to list near the issue price of approximately Rs 813-814 per share. With subscription at 1.72x and a PAT decline of approximately 69% in the most recent financial year, listing performance is expected to be flat to marginally above the issue price. Some grey market participants have pointed to possible below-issue listing risk.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_the_Waterways_Leisure_Tourism_IPO_subscription\"><\/span><strong>What was the Waterways Leisure Tourism IPO subscription?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Waterways Leisure Tourism IPO was subscribed approximately 1.72x overall at the close of the bidding period. This modest oversubscription indicates limited investor enthusiasm relative to the large issue size of Rs 585 crore, particularly given the sharp decline in profitability in the most recent financial year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_happened_to_Waterways_Leisure_Tourisms_profitability\"><\/span><strong>What happened to Waterways Leisure Tourism&#8217;s profitability?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> In its most recently reported financial year, Waterways Leisure Tourism reported a profit after tax of Rs 52.14 crore, down approximately 69% from Rs 168.19 crore in the previous year. Revenue was marginally lower at Rs 586.99 crore versus Rs 597.68 crore previously. This sharp PAT decline is a key concern for investors evaluating the listing and post-listing outlook.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Cordelia_Cruises_and_its_market_position\"><\/span><strong>What is Cordelia Cruises and its market position?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cordelia Cruises is the operating brand of Waterways Leisure Tourism Limited and is India&#8217;s first and only domestic ocean cruise operator, holding approximately 79% market share by value in the domestic ocean cruise industry. The company operates the MV Empress cruise ship with 796 cabins and plans to expand its fleet with Norwegian Sky and Norwegian Sun vessels.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_Waterways_Leisure_Tourism_IPO_allottees_consider_on_listing_day\"><\/span><strong>What should Waterways Leisure Tourism IPO allottees consider on listing day?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Given the weak GMP of Rs 5-6, modest subscription of 1.72x and the 69% PAT decline, allottees should be cautious about holding through the listing session. If the stock opens near the issue price of Rs 808, investors with a short-term view may consider exiting. For long-term investors, the growth potential in India&#8217;s nascent cruise tourism market must be weighed against near-term profitability headwinds. Consult a SEBI-registered financial advisor before making any listing day decision.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_were_the_anchor_investors_in_the_Waterways_Leisure_Tourism_IPO\"><\/span><strong>Who were the anchor investors in the Waterways Leisure Tourism IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Waterways Leisure Tourism raised Rs 263.25 crore from 11 anchor investors prior to the public subscription opening. Key allocations went to Nova Global Opportunities, Cullinan Opportunities, Zeal Global and M7 Global (each approximately 19%), with Baroda BNP Paribas Mutual Fund as the sole domestic fund participant at 7.60%.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the expected listing price for Waterways Leisure Tourism IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Based on the current grey market premium of Rs 5-6, the Waterways Leisure Tourism IPO is expected to list near the issue price of approximately Rs 813-814 per share. With subscription at 1.72x and a PAT decline of approximately 69% in the most recent financial year, listing performance is expected to be flat to marginally above the issue price. Some grey market participants have pointed to possible below-issue listing risk.\"}},{\"@type\":\"Question\",\"name\":\"What was the Waterways Leisure Tourism IPO subscription?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Waterways Leisure Tourism IPO was subscribed approximately 1.72x overall at the close of the bidding period. This modest oversubscription indicates limited investor enthusiasm relative to the large issue size of Rs 585 crore, particularly given the sharp decline in profitability in the most recent financial year.\"}},{\"@type\":\"Question\",\"name\":\"What happened to Waterways Leisure Tourism's profitability?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"In its most recently reported financial year, Waterways Leisure Tourism reported a profit after tax of Rs 52.14 crore, down approximately 69% from Rs 168.19 crore in the previous year. Revenue was marginally lower at Rs 586.99 crore versus Rs 597.68 crore previously. This sharp PAT decline is a key concern for investors evaluating the listing and post-listing outlook.\"}},{\"@type\":\"Question\",\"name\":\"What is Cordelia Cruises and its market position?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Cordelia Cruises is the operating brand of Waterways Leisure Tourism Limited and is India's first and only domestic ocean cruise operator, holding approximately 79% market share by value in the domestic ocean cruise industry. The company operates the MV Empress cruise ship with 796 cabins and plans to expand its fleet with Norwegian Sky and Norwegian Sun vessels.\"}},{\"@type\":\"Question\",\"name\":\"What should Waterways Leisure Tourism IPO allottees consider on listing day?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Given the weak GMP of Rs 5-6, modest subscription of 1.72x and the 69% PAT decline, allottees should be cautious about holding through the listing session. If the stock opens near the issue price of Rs 808, investors with a short-term view may consider exiting. For long-term investors, the growth potential in India's nascent cruise tourism market must be weighed against near-term profitability headwinds. Consult a SEBI-registered financial advisor before making any listing day decision.\"}},{\"@type\":\"Question\",\"name\":\"Who were the anchor investors in the Waterways Leisure Tourism IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Waterways Leisure Tourism raised Rs 263.25 crore from 11 anchor investors prior to the public subscription opening. Key allocations went to Nova Global Opportunities, Cullinan Opportunities, Zeal Global and M7 Global (each approximately 19%), with Baroda BNP Paribas Mutual Fund as the sole domestic fund participant at 7.60%.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Waterways Leisure Tourism IPO listing preview: GMP Rs 5-6, subscription 1.72x, PAT fell 69%. 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