Waterways Leisure's ₹585 cr IPO opens June 23 with muted GMP; 101x P/E sparks caution
Cordelia Cruises operator Waterways Leisure Tourism launches ₹585 crore fresh-issue IPO June 23 at ₹769-808 band, lot size 18. Grey market premium muted at ₹11 (1.36%). Swastika flags Neutral on aggressive 101x P/E valuation, though India cruise tourism tailwinds remain intact.
What happened
Waterways Leisure Tourism, operator of Cordelia Cruises, opens ₹585 crore fresh-issue IPO on June 23 at ₹769-808 band. GMP muted at 1.36%. Swastika rates
Key facts
- ₹585 crore
- ₹769-₹808 price band
- 7.2 million shares
- lot size 18
- GMP ₹11 (1.36%)
- 101x P/E
Why this matters
₹585 cr fresh-issue raise at premium multiples sets a rich benchmark for Indian leisure tourism comps and could pull forward strategic activity in adjacent hospitality and experiential travel segments.