Waterways Leisure Tourism opens IPO today to raise ₹585 cr
Waterways Leisure Tourism, the company behind Cordelia Cruises, is opening its IPO today.
Shares are priced between ₹769 and ₹808, and you can subscribe until June 25 with a minimum bid of 18 shares.
The company aims to raise ₹585 crore through fresh equity: no shares are being sold by existing owners.
Waterways Leisure Tourism IPO largely institutional
Most of the shares are set aside for big institutional investors (75%), while retail investors get 10%. After listing, the company could be valued at nearly ₹5,850 crore. Big funds like Nova Global and Cullinan have already invested as anchor investors.
SBI Securities says it's a good bet for the long term thanks to Waterways's leadership in India's cruise sector, which is expected to grow fast (20% to 25% CAGR).
Swastika Investmart calls it "Neutral" due to high valuations but notes strong demand and plans for more ships ahead.