Cordelia Cruises parent Waterways Leisure floats Rs 585 cr IPO at Rs 769-808; GMP hints at muted 1.24% listing pop
Waterways Leisure Tourism opens its Rs 585 crore IPO June 23-25 with a price band of Rs 769-808 and lot size of 18 shares. Grey market premium of Rs 10 signals only a 1.24% listing gain. FY26 financials show revenue slipping 1.84% to Rs 579.75 crore and profit collapsing 69% YoY to Rs 52.14 crore. Listing slated July 1 on BSE/NSE.
What happened
Cordelia Cruises parent Waterways Leisure Tourism opens Rs 585 crore IPO June 23-25 at Rs 769-808 band, GMP signals 1.24% premium. Listing July 1 on BSE/NSE;
Key facts
- Rs 585 crore issue
- price band Rs 769-808
- GMP Rs 10 (1.24%)
- fresh issue 72 lakh shares
- lot size 18 shares
- Rs 480.01 crore lease deposit
- FY26 revenue Rs 579.75 crore
- FY26 profit Rs 52.14 crore (-69% YoY)
Why this matters
Waterways' stretched valuation despite weakening financials creates a window for strategic acquirers or JV partners to engage from a position of leverage post-listing.