Cordelia Cruises operator's ₹585-cr IPO scrapes through, retail bids 3.63x as institutions stay cold
Waterways Leisure Tourism, parent of Cordelia Cruises, closed its ₹585-crore IPO fully subscribed on day three, rescued by retail investors at 3.63x. QIBs bid just 0.20x and NIIs 0.86x, signalling institutional caution despite a ₹263.25-crore anchor round at the ₹769-808 price band.
Waterways Leisure Tourism, operator of India's domestic ocean cruise brand Cordelia Cruises, saw its ₹585-crore IPO fully subscribed on final day, led by retail investors at 3.63x. Anchor round raised ₹263.25 crore ahead of issue.