Cordelia Cruises parent opens Rs 585 cr IPO with tepid 1.49% GMP
Waterways Leisure Tourism opens its Rs 585 crore IPO June 23-25 at Rs 769-808 band, listing July 1. Grey market premium signals muted Rs 12 (1.49%) demand. FY26 revenue slipped 1.84% while profit collapsed 69% to Rs 52.14 cr. Bulk of proceeds (Rs 480 cr) funds Baycruise IFSC lease deposits.
Cordelia Cruises parent Waterways Leisure Tourism opens Rs 585 crore IPO June 23-25 at Rs 769-808 band, listing July 1. GMP a tepid 1.49%. FY26 revenue dipped 1.8%, profit fell 69%. Proceeds largely fund Baycruise IFSC lease deposits.
Why this matters
Third signal flagging muted demand for Waterways Leisure's IPO, with prior coverage citing 101x P/E and a 1.24% GMP, now revised to 1.49% as subscription opens.
Retail-company signals steady at 3,480 over 90 days, indicating consistent corporate activity flow.