- Issue price
- ₹808per share
- Issue size
- ₹585 Cr72,40,099 shares
- Face value
- ₹10per equity share
- Lot size
- 18 sharesMin. ₹14,544 at the upper price
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesThu, 2026
- AllotmentMon, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 72,40,099 shares (₹585 Cr)
- Offer for sale
- None
- Total issue
- 72,40,099 shares (₹585 Cr)
- Face value
- ₹10
- Listing at
- BSE, NSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor45.0%
- QIB ex-anchor30.0%
- Retail10.0%
- Small NII10.0%
- Big NII5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 7,24,009 | 10.00% | 10% |
| Non-institutional investors (NII) | 10,86,014 | 15.00% | 15% |
| Small NII (₹2–10 lakh) | 7,24,009 | 10.00% | — |
| Big NII (above ₹10 lakh) | 3,62,005 | 5.00% | — |
| Qualified institutional buyers (QIB) | 54,30,076 | 75.00% | 75% |
| QIB, excluding anchor | 21,72,031 | 30.00% | — |
| Anchor investors | 32,58,045 | 45.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹808 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 18 | ₹14,544 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Fiscal 2026, pre-issue- EPS (basic)
- ₹8.02
- EPS (basic) (Fiscal 2025)
- ₹26
- EPS (basic) (Fiscal 2024)
- -₹18.97
- P/E (Fiscal 2026 basic EPS at Floor Price)
- 96.01×
- P/E (Fiscal 2026 basic EPS at Cap Price)
- 100.75×
- RoNW
- 92.70%
- NAV per share (As at March 31, 2026)
- ₹12.31
- NAV per share (At Floor Price)
- ₹11.02
- NAV per share (At Cap Price)
- ₹11.08
- Debt to equity
- 1.27
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 579.75 | 590.61 | 444.06 |
| Total income | 586.99 | 597.68 | 452.15 |
| EBITDA | 117.48 | 215.46 | 111.15 |
| Profit after tax | 52.14 | 168.19 | -122.73 |
| Net worth | 80.20 | 32.78 | -118.07 |
| Reserves and surplus | 15.05 | -31.90 | -182.75 |
| Total assets | 341.78 | 247.37 | 399.20 |
| Total borrowing | 101.90 | 30.44 | 5.18 |
12 months vs 12 months: revenue −1.8%, profit after tax −69.0%.
Source: ProspectusUpdated
About the company
Operates an India-focused overnight ocean cruise business under the Cordelia Cruises brand. It currently runs one cruise vessel on domestic coastal and nearby international itineraries, with customers booking mainly direct. It plans to add two leased vessels in later years.
- Incorporated
- 2020
- Industry
- Cruise Tourism
- CIN
- U63030MH2020PLC440323
- Website
- cordeliacruises.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Global Shipping and Leisure Limited and Rajesh Chandumal Hotwani | 99.27% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Payment of deposit, advanced lease rental and monthly lease payments to step-down subsidiary Baycruise Shipping and Leasing (IFSC) Private Limited for two leased vessels | 480.01 |
| General corporate purposes | 76.63 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Waterways Leisure Tourism LimitedIssuer | ₹8.02 | — | 92.70% | ₹12.31 |
| Chalet Hotels Limited | ₹29.5 | 25.73× | 19.40% | ₹168.83 |
| Lemon Tree Hotels Limited | ₹2.87 | 40.98× | 11.73% | ₹26.25 |
| Juniper Hotels Limited | ₹6.36 | 31.90× | 5.06% | ₹128.91 |
| Samhi Hotels Limited | ₹25.61 | 6.19× | 34.07% | ₹98.24 |
| Taj GVK Hotels & Resorts Limited | ₹65.31 | 4.97× | 39.48% | ₹226.37 |
| Wonderla Holidays Limited | ₹12.89 | 40.98× | 4.64% | ₹283.33 |
| Imagicca World Entertainment Limited | ₹0.01 | 4544.00× | 0.10% | ₹22.16 |
| Royal Caribbean Cruises Ltd | ₹332.39 | 75.79× | 9.37% | ₹3,143.58 |
| Carnival Corporation & PLC | ₹18.1 | 139.53× | 2.08% | ₹909.15 |
| Norwegian Cruise Line Holdings Ltd | ₹21.91 | 79.04× | 4.52% | ₹504.52 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Among the few domestic ocean cruise operators in India, with the Cordelia Cruises brand.
- A majority of cabins are sold directly to guests rather than through travel agents.
- Itineraries cover several Indian coastal destinations and nearby international ports.
- Passenger load factors have been high in recent fiscals.
- Critical cruise operations are outsourced, supporting a more asset-light model.
Risks
- The business depends on a single cruise vessel, so any disruption could hurt results.
- Cruise ticket sales make up most revenue and are sensitive to demand and pricing shifts.
- Vessel ownership sits in a BVI subsidiary, exposing the company to structural and regulatory risks.
- Growth depends on acquiring and deploying two leased vessels on schedule.
- The company has a history of losses and negative net worth in earlier fiscals, and the share has no prior market.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹808) appear here after the shares list on BSE and NSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Waterways Leisure Tourism IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 23 June 2026 and closes on Thursday, 25 June 2026.
What is the Waterways Leisure Tourism IPO price band?
The final issue price is ₹808 per share.
What is the lot size of the Waterways Leisure Tourism IPO?
One lot is 18 shares, which is ₹14,544 at ₹808 per share.
Where will Waterways Leisure Tourism shares list?
On BSE and NSE. The tentative listing date is Wednesday, 1 July 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Waterways Leisure Tourism IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 29 June 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the BSE website or the NSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹480.01 Cr for payment of deposit, advanced lease rental and monthly lease payments to step-down subsidiary Baycruise Shipping and Leasing (IFSC) Private Limited for two leased vessels, ₹76.63 Cr for general corporate purposes.
Related IPOs
Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.