Cordelia Cruise operator's Rs 585 cr IPO scrapes through at 1.63x; GMP flips to Rs 30-35 discount ahead of July 1 listing
Waterways Leisure Tourism, which commands 79% of India's domestic ocean cruise market, saw tepid demand with QIB at 1.01x and NII 1.18x, salvaged only by 4.19x retail subscription. Grey market premium has turned negative at Rs 30-35 discount below the Rs 769-808 band, signalling a soft BSE/NSE debut on July 1.
Cordelia Cruise operator Waterways Leisure Tourism's Rs 585 crore IPO was subscribed only 1.63x with weak GMP turning to Rs 30-35 discount. Allotment due soon, listing on BSE/NSE scheduled July 1. Company holds 79% share of India's domestic ocean cruise market.