| IPO Date | June 23, 2026 to June 25, 2026 |
| Listing Date | July 1, 2026 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 769 to ₹ 808 / Share |
| Lot Size | 18 Shares |
| Total Issue Size | 7240099 (Aggregating up to 585) |
| Fresh Issue | 7240099 (Aggregating up to 585) |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE NSE |
| Share holding pre issue | 65154444 |
| Share holding post issue | 72394543 |
| Market Maker portion |
Waterways Leisure Tourism IPO opens on June 23, 2026, and closes on June 25, 2026.
| IPO Open Date | June 23, 2026 |
| IPO Close Date | June 25, 2026 |
| Basis of Allotment | June 29, 2026 |
| Initiation of Refunds | June 30, 2026 |
| Credit of Shares to Demat | June 30, 2026 |
| Listing Date | July 1, 2026 |
| Cut-off time for UPI mandate confirmation | -- |
Investors can bid for a minimum of 18 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | Rs.14,544 |
| Retail (Max) | 13 | 234 | Rs.189,072 |
| S-HNI (Min) | 14 | 252 | Rs.203,616 |
| S-HNI (Max) | 68 | 1,224 | Rs.988,992 |
| B-HNI (Min) | 69 | 1,242 | Rs.1,003,536 |
| HNI (Min) |
| Share Holding Pre Issue | 65154444 |
| Share Holding Post Issue | 72394543 |
Waterways Leisure Tourism IPO comprises a total issue size of 72,40,099 shares. Out of which, 54,30,076 (75.00%) are allocated to QIB, 10,86,014 (15.00%) allocated to NII 7,24,009 (10.00%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 3258045 45.00 |
NA |
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 2172031 30.00 |
NA |
| NII (HNI) Shares Offered | 1086014 15.00 |
NA |
| bNII > ₹10L | 724009 10.00 |
2873 |
| sNII < ₹10L | 362005 5.00 |
1436 |
| Retail Shares Offered | 724009 10.00 |
40222 |
| Employee Shares Offered | |
|
| Total Shares Offered | 7240099 100.00 |
| Bid Date | 2026-06-22 |
| Shares Offered | 3258045 |
| Anchor Portion Size (In Cr.) | 263.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 28, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 26, 2026 |
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.
Key Strengths
| KPI | Values |
|---|---|
| ROE | 0.92 |
| ROCE | 1.14 |
| Debt/Equity | 1.27 |
| RoNW | 92.70 |
| P/BV | 65.64 |
| PAT Margin (%) | 0.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.00 | 7.20 |
| P/E (x) | 100.96 | 112.18 |
Global Shipping & Leisure Ltd. and Rajesh Chandumal Hotwani
Waterways Leisure Tourism Ltd. Address A-1601, Marathon Futurex NM Joshi Marg Lower Parel, Delisle Road Mumbai, Maharashtra, 400013
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