Cordelia Cruises operator Waterways Leisure's ₹585-cr IPO crawls to 15% on Day 1, retail leads at 0.77x

Waterways Leisure Tourism, which runs Cordelia Cruises, saw tepid Day 1 demand for its ₹585-crore IPO priced at ₹769-808. Retail booked 0.77x, NII 0.03x, QIBs nil. Anchors had earlier committed ₹263.25 crore for 32.58 lakh shares at ₹808. Issue closes June 25.

— Source publishedTue, 23 Jun, 2026, 15:33 IST·First seen Tue, 23 Jun, 2026, 15:35 IST·Source The Hindu BusinessLine

What happened

Cordelia Cruises (Waterways Leisure Tourism) · Cordelia Cruises operator Waterways Leisure Tourism's ₹585-crore IPO was subscribed 15% on Day 1, led by retail

Key facts

  • 15% subscription Day 1
  • retail 0.77x
  • NII 0.03x
  • QIB 0x
  • ₹263.25 cr anchor
  • 32.58 lakh shares at ₹808
  • Price band ₹769-808
  • ₹585 cr issue size

Why this matters

A tepid 15% Day 1 subscription on a ₹585-crore raise weakens Waterways Leisure's negotiating leverage for fleet expansion and port-tie-up deals, and may force a revisit of valuation benchmarks across India's nascent cruise category.

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