Waterways Leisure Tourism IPO Details
Waterways Leisure Tourism IPO Summary
Waterways Leisure Tourism IPO opens for subscription on 23 Jun 2026 and closes on 25 Jun 2026.The IPO will be listed on NSE, BSE with the tentative listing date set for 01 Jul 2026.
Waterways Leisure Tourism IPO price band has been fixed at ₹769 – ₹808 per share. The face value is ₹10 per share with a lot size of 18.
Waterways Leisure Tourism IPO total issue size comprises 72,40,099 shares (aggregating up to ₹585.00 Cr). This includes a fresh issue of 72,40,099 shares (aggregating up to ₹585.00 Cr). Pre-issue shareholding stands at 6,51,54,444, which will increase to 6,51,54,444 post-issue.
Waterways Leisure Tourism IPO carries a ₹-51 (-6.31%) GMP, reflecting investor sentiment.
Waterways Leisure Tourism IPO Lot Size :Retail Minimum is 1 lot (18 shares) amounting to ₹14,544. Retail Maximum is 13 lots (234 shares) amounting to ₹189,072. SHNI Minimum is 14 lots (252 shares) amounting to ₹203,616. SHNI Maximum is 68 lots (1,224 shares) amounting to ₹988,992. BHNI Minimum is 69 lots (1,242 shares) amounting to ₹1,003,536.
Waterways Leisure Tourism IPO Details
Waterways Leisure Tourism IPO Subscription
Waterways Leisure Tourism IPO Application Wise Breakup (Approx)
Waterways Leisure Tourism IPO Dates
- 23 Jun 2026Opening dateOpen
- 25 Jun 2026Closing dateClose
- 29 Jun 2026Allotment Date Allotment
- 30 Jun 2026Initiation of RefundsRefund
- 30 Jun 2026Credit of SharesCredit
- 01 Jul 2026Listing dateListing
Waterways Leisure Tourism IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 18 | ₹14,544 |
| Retail Maximum | 13 | 234 | ₹189,072 |
| SHNI Minimum | 14 | 252 | ₹203,616 |
| SHNI Maximum | 68 | 1224 | ₹988,992 |
| BHNI Minimum | 69 | 1242 | ₹1,003,536 |
Waterways Leisure Tourism IPO Reservation
Promoter Holding
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Waterways Leisure Tourism IPO Valuations
Waterways Leisure Tourism Financial Information
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 243.79 | 327.93 | 307.02 | 57.80 |
| Total Income | 414.21 | 450.20 | 486.22 | 136.75 |
| Profit After Tax | 139.25 | -119.96 | 55.31 | -114.98 |
| NET Worth | 24.38 | -114.77 | 5.19 | -114.85 |
| Reserves and Surplus | -40.26 | -179.51 | -59.55 | -114.87 |
| Total Borrowing | 4.40 | 73.51 | ||
| Amount in ₹ Crore | ||||
About Waterways Leisure Tourism IPO
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.
Strength Of Waterways Leisure Tourism IPO
- Pioneer in the ocean cruise tourism in India, well-positioned to capitalize on industry tailwinds.
- India-focused cruise experience with diverse amenities.
- Significant direct bookings optimizing margins.
- Outsourced critical cruise operations enhancing efficiency and scalability.
- Seasoned management team delivering financial growth.
Risk Of Waterways Leisure Tourism IPO
- The company currently undertake its operations through a single cruise vessel, the `MV Empress'. Any disruption to the company cruise vessel could lead to operational disruptions and adversely impact its business, results of operations, financial condition and cash flows.
- A significant portion of the company revenue is derived from its cruise ticket sales, which accounted for 91.22%, 89.53% and 87.45% of the company revenue from operations in Fiscals 2026, 2025 and 2024, respectively. A decline in its cruise ticket sales may adversely impact the company business, financial condition, results of operations, cash flows and prospects.
- The Company operates as the vessel operating entity, while the vessel owning entity is Bay Cruise Investment Inc. Any legal, financial, or regulatory issues faced by Bay Cruise Investment Inc. could indirectly impact its business and results of operations.
- The company growth strategy relies on the acquisition of new vessels to expand its operations. The company inability to expand its operations by acquiring new vessels could significantly impact the company business, financial condition, and results of operations.
- The company Statutory Auditors has included certain adverse remarks, emphasis of matters and qualifications in their auditor's report. In particular, its Statutory Auditors included a remark in the audit report for Fiscal 2024 pertaining to the material uncertainty related to going concern.
- An increase in cruise capacity without a corresponding increase in demand and infrastructure could adversely affect the company business, results of operations, financial condition and cash flows.
- The company cruise operations depends on limited third-party service providers for critical services and amenities, including technical and crew management, hospitality management, general purchasing and logistics management and entertainment. Any disruption in the services offered by these third-party service providers may adversely impact its business, results of operations, financial condition and cash flows.
- The company has a limited operating history and its historical performance may not be indicative of the company future growth or financial results.
- The company inability to ensure high cruise occupancy rates could result in significant financial losses and adversely impact its business, results of operations, financial condition and cash flows.
- The company has in the past entered into related party transactions and may continue to does so in the future, which may potentially involve conflicts of interest with the equity shareholders.
Objectives Waterways Leisure Tourism IPO
1. Payment towards deposit/ advanced lease rental and monthly lease payments to our stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited (“Baycruise IFSC”).
2. General corporate purposes
Company Contact Details
A-1601, Marathon Futurex, NM Joshi Marg, Lower Parel, Delisle Road,
Mumbai, Maharashtra , 400013
Phone: +9102271541821
Email: cs@waterways-leisure.com
Website: https://www.cordeliacruises.com/
Registrar Contact Details
Waterways Leisure Tourism FAQs
The Waterways Leisure Tourism IPO is a MAINBOARD public issue comprising 7240099 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹585.00 Cr. The issue price has been fixed at ₹808 per equity share, and the minimum application size is 18 shares.
The IPO opens for subscription on 23 Jun 2026, and closes on 25 Jun 2026.
MUFG Intime India Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
As of now, the current GMP stands at ₹-51 (-6.31%).
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