Waterways Leisure plans July 10 board meeting considering stock split
Business
Waterways Leisure Tourism, fresh off its July 1 market debut, is already planning a board meeting on July 10 to consider a stock split.
If approved, this would lower the share price and boost the number of shares, making it easier for more people to buy in and trade.
Retail oversubscribed ₹585cr Waterways Leisure IPO
The company's ₹585 crore IPO got solid support from retail investors (who oversubscribed by over four times), but big institutions weren't as excited.
After listing, the stock saw wild swings, hitting two upper circuits but also dropping 5.5% on day one, and is now trading below its ₹808 issue price.
With promoters still holding about 89%, there aren't many shares floating around, which means prices can jump up or down pretty easily.