Waterways Leisure opens ₹585 cr IPO at ₹769-808; anchor books ₹263 cr ahead of muted debut
Domestic ocean cruise operator Waterways Leisure Tourism launches its ₹585 crore fresh issue on June 23 at a ₹769-808 band. Anchors committed ₹263.25 crore, but grey market premium sits at just ₹12 (1.49%), signalling tepid listing expectations. Proceeds repay lease obligations to subsidiary Baycruise IFSC.
What happened
Domestic ocean cruise operator Waterways Leisure Tourism opens ₹585 crore IPO on June 23, priced at ₹769-808. Proceeds fund lease obligations to subsidiary
Key facts
- ₹585 crore fresh issue
- price band ₹769-₹808
- ₹263.25 crore anchor
- lot size 18 shares
- GMP ₹12 (1.49%)
- 730,819 passengers
Why this matters
Waterways' use of IPO proceeds to settle intercompany lease dues with subsidiary Baycruise IFSC highlights related-party capital structure complexity that acquirers or strategic partners in cruise tourism should scrutinize during diligence.