Waterways Leisure Tourism Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹769 - ₹808
- Lot size
- 18 shares
- Issue amount
- ₹585 cr
- Total subscription
- 1.72×
- Opens
- 23 Jun 2026
- Closes
- 25 Jun 2026
- Allotment
- 29 Jun 2026
- Listing
- 1 Jul 2026
Offer at a glance
Issue overview
- Issue size
- 72,40,099 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,842
- Fresh issue
- ₹585 cr
- Offer for sale
- ₹0 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,544
- Issue type
- Bookbuilding IPO
- Shares before issue
- 6,51,54,444
- Shares after issue
- 6,51,54,444
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 18 | ₹14,544 |
| sHNI | 14 | 252 | ₹2,03,616 |
| bHNI | 69 | 1,242 | ₹10,03,536 |
Share reservation
Subscription & GMP
Subscription by category
Reported 25 Jun 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 40,223 | 1,12,999 |
| HNIs(10L +) | 2,873 | 512 |
| HNIs (2-10L) | 1,437 | 2,346 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 175.5 | 186.47 |
| FIIs | 0 | 79.97 |
| FIs | 0 | 15.04 |
| Mutual Funds | 0 | 20 |
| Others | 0 | 11.47 |
| RETAIL | 58.5 | 257.59 |
| HNIs 2+ | 29.25 | 53.45 |
| HNIs 10+ | 58.5 | 54.88 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 8.02 | 26 | 18.97 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 92.7 | 394.41 | 217.46 |
| PRE IPO(PE) | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Waterways Leisure Tourism Limited | 0 | 0 | 10.00 | 12.31 | 92.7 | 8.02 |
| Chalet Hotels Limited | 25.73 | 757.90 | 10.00 | 168.83 | 19.4 | 29.5 |
| Lemon Tree Hotels Limited | 40.98 | 117.60 | 10.00 | 26.25 | 11.73 | 2.87 |
| Juniper Hotels Limited | 31.90 | 202.90 | 10.00 | 128.91 | 5.06 | 6.36 |
| Samhi Hotels Limited | 6.19 | 156.10 | 1.00 | 98.24 | 34.07 | 25.61 |
| Taj GVK Hotels & Resorts Limited | 4.97 | 324.65 | 2.00 | 226.37 | 39.48 | 65.31 |
| Wonderla Holidays Limited | 40.98 | 525.80 | 10.00 | 283.33 | 4.64 | 12.89 |
| Royal Caribbean Cruises Limited | 75.79 | 25120.95 | 0.92 | 3,143.58 | 9.37 | 332.39 |
| Carnival Corporation & PLC | 139.53 | 2524.86 | 0.92 | 909.15 | 2.08 | 18.1 |
| Norwegian Cruise Line Holdings Ltd | 79.04 | 1731.49 | 0.09 | 504.52 | 4.52 | 21.91 |
| Imagicca World Entertainment | 4544.00 | 45.44 | 10.00 | 22.16 | 0.1 | 0.01 |
Company information
Company profile
Waterways Leisure Tourism, under its flagship brand Cordelia Cruises, operates India’s only premium cruise line, offering both domestic and international itineraries. Its current vessel, MV Express, primarily sails to domestic destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry, while also offering select international cruises to Sri Lanka (Hambantota, Trincomalee, Jaffna) and Southeast Asia (Phuket, Singapore, Kuala Lumpur, Langkawi). The company focuses on providing a vibrant cruise experience that blends international hospitality standards with Indian tastes across cuisine, entertainment, and onboard services.
Strengths
- Strong Growth Potential in Cruise Tourism: India's extensive coastline creates significant opportunities for domestic and international cruise operations.
- Rising Demand for Leisure Travel: Increasing disposable incomes and a growing middle class support long-term demand growth.
- Supportive Government Initiatives: Infrastructure development and favorable policies are expected to boost the cruise tourism industry.
Risk factors
- Low Market Penetration & Awareness: Cruise tourism remains a niche segment, which may limit customer adoption and demand growth.
- Infrastructure Constraints: Limited cruise terminals and supporting facilities could restrict industry expansion.
- Regulatory & Taxation Challenges: Changes in policies, regulations, or tax structures may impact profitability and growth prospects.
Promoters
Global Shipping and Leisure Limited
Rajesh Chandumal Hotwani
Registrar & documents
Lead manager
Centrum Capital Limited, Intensive Fiscal Services Private Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
A-1601, Marathon Futurex, NM Joshi Marg, Lower Parel, Delisle Road, Mumbai, Maharashtra, 400013
+9102271541821
[email protected]Company website ↗Understanding CORDELIA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.