Waterways Leisure Tourism IPO
Open MainLineCurrent GMP
₹-36 (-4.46%)
Price Band
₹ 769 – 808
Lot Size
18
Issue Size
₹585 Cr
Minimum Investment
₹14544 (18 Shares)
Listing Date
01 July 2026
Subscription
1.46x
About the Company
Incorporated in November 2020, Waterways Leisure Tourism Limited is one of India's leading domestic ocean cruise operators, providing premium cruise vacations that combine Indian hospitality, culture, entertainment, and cuisine. The company operates the cruise vessel MV Empress, offering itineraries across prominent Indian destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry, as well as select international destinations including Sri Lanka, Thailand, Singapore, and Malaysia.
As of March 31, 2026, the company had welcomed more than 730,000 guests, with its cruises covering over 321,000 nautical miles. In Fiscal 2025, it held an estimated 79% market share by value in India's domestic ocean cruise industry, highlighting its strong leadership position in the sector.
The MV Empress is equipped with 796 cabins, including suites, ocean-view cabins, and interior staterooms. The vessel offers a wide range of onboard amenities and experiences, such as multiple dining venues, live entertainment shows, a casino, spa, fitness center, swimming pools, gaming arcade, children's activity center, and facilities for MICE (Meetings, Incentives, Conferences, and Exhibitions) events and destination weddings.
The company operates an asset-light business model, outsourcing several key functions—including food and beverage services, housekeeping, crewing, and entertainment—to specialized service providers. This approach enables greater operational efficiency, flexibility, and scalability. A significant portion of bookings is generated directly through the company's website, mobile application, call centers, and customer support channels, strengthening customer engagement and reducing dependence on third-party distribution platforms.
Waterways Leisure Tourism Limited is well-positioned to capitalize on the growing demand for cruise tourism in India. To support its expansion strategy, the company plans to strengthen its fleet by adding Norwegian Sky and Norwegian Sun, which are expected to enhance capacity and broaden its cruise offerings.
As of March 31, 2026, the company employed 245 permanent employees.
Promoters
- Global Shipping
- Leisure Limited
- Rajesh Chandumal Hotwani
Promoters Holding
Holding Pre Issue
99.27%
Holding Post Issue
89.35%
Objects of the Issue
The Company Waterways Leisure Tourism IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Payment towards deposit/ advanced lease rental and monthly lease payments to our step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited (“Baycruise IFSC”)
- General corporate purposes
Address / Contact Info
Waterways Leisure Tourism Ltd.
A-1601, Marathon Futurex,
NM Joshi Marg,
Lower Parel, Delisle Road,
Mumbai, Maharashtra, 400013
Phone: +9102271541821
Email: cs@waterways-leisure.com
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 23 June 2026
IPO Close Date
Thursday, 25 June 2026
Basis of Allotment
Monday, 29 June 2026
Initiation of Refunds
Tuesday, 30 June 2026
Credit of Shares to Demat
Tuesday, 30 June 2026
Listing Date
Wednesday, 01 July 2026 — NSE & BSE
Important Dates
Open Date
23 June 2026
Close Date
25 June 2026
Basis Of Allotment
29 June 2026
Listing Date
01 July 2026
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 341.78 | 247.37 | 399.2 |
| Revenue | 586.99 | 597.68 | 452.15 |
| Profit After Tax | 52.14 | 168.19 | -122.73 |
| Net Worth | 80.2 | 32.78 | -118.07 |
| Reserve & Surplus | 15.05 | -31.9 | -182.75 |
| Total Borrowings | 101.9 | 30.44 | 5.18 |
EPS Pre
8.00%
EPS Post
0.00%
P/E Pre
100.96
P/E (Post Issue)
0.00x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 0.92 | 3.94 | 2.17 |
| ROCE % | 1.14 | 5.03 | 0.62 |
| Debt / Equity | 1.27 | 0.93 | -0.04 |
| RoNW % | 92.7 | 394.41 | 217.46 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 0.09 | 0.28 | -0.27 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 2282184 | 54.55 | 0 |
| Non-Institutional | 1141092 | 27.27 | 0 |
| BNII | 760728 | 18.18 | 0 |
| SNII | 380364 | 9.09 | 0 |
| Retail Investors | 760728 | 18.18 | 0 |
| Total | 4184004 | 100 | 0 |
Subscription Status ( Thu, 25 Jun 26 01:42 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 2282184 | 1565262 | 0.69x |
| Non-Institutional | 1141092 | 1340730 | 1.17x |
| BNII | 760728 | 679212 | 0.89x |
| SNII | 380364 | 661518 | 1.74x |
| Retail Investors | 760728 | 3187908 | 4.19x |
| Total | 4184004 | 6093900 | 1.46x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Waterways Leisure Tourism Ltd | 10 | 0.00 | 8.02 | 8.02 | 92.70 | 12.31 |
| Chalet Hotels Ltd | 10 | 25.73 | 29.50 | 29.46 | 19.40 | 168.83 |
| Lemon Tree Hotels Ltd | 10 | 40.98 | 2.87 | 2.87 | 11.73 | 26.25 |
| Juniper Hotels Ltd | 10 | 31.90 | 6.36 | 6.36 | 5.06 | 128.91 |
| Samhi Hotels Ltd | 1 | 6.19 | 25.61 | 25.47 | 34.07 | 98.24 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 18 | 14,544.00 |
| Retail (Max) | 13 | 234 | 189,072.00 |
| S-HNI (Min) | 14 | 252 | 203,616.00 |
| S-HNI (Max) | 68 | 1,224 | 988,992.00 |
| B-HNI (Min) | 69 | 1,242 | 1,003,536.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Centrum Broking Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Waterways Leisure Tourism IPO is a Book-building IPO worth ₹585 crores. The price band is ₹769 to 808 per share. The IPO opens on Tue, Jun 23, 2026 and closes on Thu, Jun 25, 2026. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Waterways Leisure Tourism IPO opens on Tue, Jun 23, 2026 and closes on Thu, Jun 25, 2026
Waterways Leisure Tourism IPO Price Band is ₹769 to 808.
Waterways Leisure Tourism IPO lot size is 18, and the minimum amount required for application is ₹14544.
The minimum investment for Waterways Leisure Tourism IPO is approximately ₹14544 based on the upper price band.
To apply for the Waterways Leisure Tourism IPO , investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Jun 25, 2026. After submission, funds are blocked until the basis of allotment of Waterways Leisure Tourism IPO is finalised.
Waterways Leisure Tourism IPO issue size is ₹585 crores.
Waterways Leisure Tourism IPO allotment date is Sat, Jun 27, 2026.
The registrar for Waterways Leisure Tourism IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Waterways Leisure Tourism IPO through their official website or helpline.
The Waterways Leisure Tourism IPO GMP (Grey Market Premium) is ₹-36 as of Sat, Jun 27, 2026. Based on the upper price band of ₹808 per share, the estimated Waterways Leisure Tourism IPO listing price is ₹772, indicating a potential listing gain of approximately 31% over the issue price.