Waterways Leisure Tourism IPO fully subscribed driven by retail demand
Waterways Leisure Tourism's IPO wrapped up today and was fully booked, thanks mostly to retail investors who oversubscribed their shares by more than three times.
Non-institutional and big institutional buyers weren't quite as enthusiastic, but the IPO still closed strong.
Shares were priced between ₹769 to ₹808 each, and the whole thing was a fresh equity issue: no old shares changing hands.
Waterways Leisure Tourism raised ₹263.25 cr
The company raised ₹263.25 crore from anchor investors even before bidding started. Proceeds will be used for lease payments for its step-down subsidiary Baycruise Shipping and Leasing (IFSC) Pvt Ltd, and some general business needs.
Centrum Broking managed the IPO process, while MUFG Intime India handled registrations.
With this successful launch, Waterways Leisure Tourism, best known for running Cordelia Cruises, seems set for some interesting growth ahead.