Waterways Leisure Tourism
· Mainboard · NSE, BSE
Price Band
₹769–808
Lot Size
18 shares
Issue Size
₹585 Cr
Min. Investment
₹14,544
Grey Market Premium
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Estimated listing price: ₹808
Subscription Status
About Waterways Leisure Tourism
Incorporated in November 2020, Waterways Leisure Tourism Limited is one of India’s leading domestic ocean cruise operators, offering luxury cruise experiences focused on Indian culture, hospitality, entertainment, and cuisine. The company operates the cruise vessel MV Empress, which sails to destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, Puducherry, and select international destinations such as Sri Lanka, Thailand, Singapore, and Malaysia. As of March 31, 2026, over 730,000 guests had sailed on its cruises, covering more than 321,000 nautical miles. The company held approximately 79% market share by value in India’s domestic ocean cruise industry in Fiscal 2025. MV Empress features 796 cabins, including suites, ocean-view cabins, and interior staterooms, along with amenities such as restaurants, entertainment shows, casino, spa, fitness center, swimming pools, gaming arcade, children's academy, and MICE and wedding facilities. The company follows an asset-light operating model by outsourcing key cruise functions such as food & beverage, housekeeping, crewing, and entertainment, enabling operational efficiency and scalability. A majority of bookings are generated directly through its website, mobile application, call centers, and customer service channels. Waterways Leisure Tourism is positioned to benefit from the growing cruise tourism industry in India and plans to expand its fleet with Norwegian Sky and Norwegian Sun. As of March 31, 2026, the company had 245 permanent employees.
Issue Objectives
- Payment towards deposit/ advanced lease rental and monthly lease payments to stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt.Ltd. (Baycruise IFSC).
- General Corporate Purposes
- Issue Expenses
Anchor Investors
Waterways Leisure Tourism IPO raises ₹263.25 crore from anchor investors. Waterways Leisure Tourism IPO Anchor bid date is June 22, 2026.📝 Anchor Investors Letter (PDF)
Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 54,30,076 | 75% |
| − Anchor Investor | 32,58,045 | 45% |
| − QIB (Ex. Anchor) | 21,72,031 | 30% |
| NII (HNI) | 10,86,014 | 15% |
| − bNII > ₹10L | 7,24,009 | 10% |
| − sNII < ₹10L | 3,62,005 | 5% |
| Retail | 7,24,009 | 10% |
- QIB39.5%
- − Anchor Investor23.7%
- − QIB (Ex. Anchor)15.8%
- NII (HNI)7.9%
- − bNII > ₹10L5.3%
- − sNII < ₹10L2.6%
- Retail5.3%
Market Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,544 |
| Retail (Max) | 13 | 234 | ₹1,89,072 |
| S-HNI (Min) | 14 | 252 | ₹2,03,616 |
| S-HNI (Max) | 68 | 1224 | ₹9,88,992 |
| B-HNI (Min) | 69 | 1242 | ₹10,03,536 |
Financials (₹ Cr)
Valuations
EPS (Pre IPO)
8.00
EPS (Post IPO)
7.20
ROE
92.70%
P/E (Pre IPO)
100.96
P/E (Post IPO)
112.18
Price / Book
65.64
Market Cap
₹5,849.48 Cr.
Peers Comparison
| Company | P/E | ROE | Revenue |
|---|---|---|---|
| UHM Vacation Ltd. | 11.32 | ₹36.00 Cr | |
| Western Overseas Study Abroad Ltd. | 10.67 | ₹10.07 Cr | |
| Helloji Holidays Ltd. | 14.07 | ₹10.97 Cr | |
| LGT Business Connextions Ltd. | 14.38 | ₹28.09 Cr | |
| TSC India Ltd. | 15.44 | ₹25.89 Cr |
Contact Details
Waterways Leisure Tourism Ltd. Address
- +9102271541821
- cs@waterways-leisure.com
- https://www.cordeliacruises.com/
Registrar Contact Details
Link Intime India Pvt. Ltd.
- +91 22 4918 6270
- ipo.helpdesk@linkintime.co.in
- https://linkintime.co.in
- C-101, 247 Park, LBS Marg, Vikhroli West, Mumbai – 400083
Frequently Asked Questions
Key Dates
- Open Date
- 23 Jun 2026
- Close Date
- 25 Jun 2026
- Listing Date
- 01 Jul 2026
Issue Details
- Registrar
- Link Intime India
- Lead Manager(s)
- Exchange
- NSE, BSE