Waterways Leisure Tourism opens ₹585-cr IPO at ₹769-808 band, anchors commit ₹263 cr
India's leading domestic ocean cruise operator, commanding 79% market share in FY25 with its MV Empress vessel serving 730,819 guests, launches its fresh-issue IPO at a steep P/E of 112.2x FY26. Anchors including Baroda BNP Paribas absorbed 32.58 lakh shares ahead of public subscription.
What happened
Waterways Leisure Tourism, India's leading domestic ocean cruise operator with 79% market share and MV Empress vessel, opens ₹585 crore fresh-issue IPO at
Key facts
- price band ₹769-808
- fresh issue ₹585 cr
- anchor ₹263.25 cr
- 32,58,045 shares to anchors
- 79% market share FY25
- 730,819 guests
- P/E 112.2x FY26
- EV/EBITDA 48.6x
Why this matters
The ₹585-cr fresh issue at premium multiples sets a rich comp for domestic cruise and experiential-leisure M&A, and flags a window for strategic partnerships with adjacent hospitality and port-infrastructure players.