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Waterways Leisure Tourism Ltd
Listed
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 cuisin
Issue details
Price band
₹769 – ₹808
Face value
₹10
Lot size
18 shares
Minimum investment
₹14,544
Issue size
₹585.00 Cr
Fresh issue
₹585.00 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE, NSE
Key dates
Opens
23 Jun 2026
Closes
25 Jun 2026
UPI mandate cut-off
5:00 PM on 25 Jun 2026
Allotment
29 Jun 2026
Refunds
30 Jun 2026
Shares in demat
30 Jun 2026
Listing
1 Jul 2026
Subscription and listing
Subscription
1.40x
Listing price
₹681
Registrar
MUFG Intime India Pvt Ltd
Lead manager
Centrum Broking
Subscription by category
Total
1.40x
Total applications
1,12,897
Anchor investors
Amount raised
₹263.25 Cr
Bid date
22 Jun 2026
50% lock-in ends
28 Jul 2026
Rest lock-in ends
26 Sep 2026
Listing day
Issue price
₹808
Open
₹681.00
High
₹722.70
Low
₹623.10
Day close
₹668.10
Listing gain at open
-15.72%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
54,30,076
75.00%
Anchor Investor Shares Offered
32,58,045
45.00%
QIB (Ex. Anchor) Shares Offered
21,72,031
30.00%
NII Shares Offered
10,86,014
15.00%
bNII > ₹10L
7,24,009
10.00%
sNII < ₹10L
3,62,005
5.00%
Retail Shares Offered
7,24,009
10.00%
Total Shares Offered
72,40,099
100.00%
Finaccle’s quick read
Avoid
FY26 income down 2%, PAT down 69%, ROE 0.92%, D/E 1.27, post-issue P/E 112.18x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
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.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
0.92%
ROCE
1.14%
Debt / equity
1.27
PAT margin
0.09%
P/E post issue
112.18
Market cap
₹5,849.48 Cr
Use of IPO money
Payment towards deposit/ advanced lease rental and monthly lease payments to stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt.Ltd. (Baycruise IFSC
₹480.01 Cr
General Corporate Purposes
₹76.63 Cr
Issue Expenses
₹28.36 Cr
Strengths
Risks to watch
!
Revenue fell 2% in FY26
!
PAT fell 69% in FY26
!
Thin PAT margin of 0.09%
!
Rich valuation: post-issue P/E of 112.18x
!
Debt to equity of 1.27
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.