Bookbuilding IPO | ₹585 Cr | Listing at BSE, NSE | Tue, Jun 23, 2026 - Thu, Jun 25, 2026 O
Waterways Leisure Tourism IPO is a book build issue of ₹585.00 crores. The issue is entirely a fresh issue of 0.72 crore shares of ₹585.00 crore.
Waterways Leisure Tourism IPO bidding opened for subscription on Jun 23, 2026 and will close on Jun 25, 2026. The allotment for the Waterways Leisure Tourism IPO is expected to be finalized on Jun 29, 2026. Waterways Leisure Tourism IPO will list on NSE and BSE with a tentative listing date fixed as Jul 1, 2026.
Waterways Leisure Tourism IPO is set issue price band at ₹769 to ₹808 per share. The lot size for an application is 18 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,544 (18 shares) (based on upper price). The lot size investment for sNII is 14 lots (252 shares), amounting to ₹2,03,616, and for bNII, it is 69 lots (1,242 shares), amounting to ₹10,03,536.
Centrum Broking Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Waterways Leisure Tourism IPO RHP for detailed Information.
IPO Open
Tue, Jun 23, 2026
IPO Close
Thu, Jun 25, 2026
Price Band
₹769 to ₹808
Market Cap (Pre-IPO)
To be declared
| IPO Date | 23 to 25 Jun, 2026 |
| Listing Date | Wed, Jul 1, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹769 to ₹808 |
| Lot Size | 18 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 72,40,099 shares (agg. up to ₹585 Cr) |
| Fresh Issue | 72,40,099 shares (agg. up to ₹585 Cr) |
| Share Holding Pre Issue | 6,51,54,444 shares |
Waterways Leisure Tourism IPO comprises a total issue size of 72,40,099 shares. Out of which, 54,30,074 (75.00%) are allocated to QIB, 10,86,015 (15.00%) allocated to NII 7,24,010 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 54,30,074 | 75.00% | NA |
| − Anchor Investor Shares Offered | 32,58,045 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 21,72,029 | 30.00% | NA |
| NII (HNI) Shares Offered | 10,86,015 | 15.00% | NA |
| − bNII > ₹10L | 7,24,010 | 10.00% | 2,873 |
| − sNII < ₹10L | 3,62,005 | 5.00% | 1,436 |
| Retail Shares Offered | 7,24,010 | 10.00% | 40,222 |
| Total Shares Offered | 72,40,099 | 100.00% |
Investors can bid for a minimum of 18 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,544 |
| Retail (Max) | 13 | 234 | ₹1,89,072 |
| S-HNI (Min) | 14 | 252 | ₹2,03,616 |
| S-HNI (Max) | 68 | 1,224 | ₹9,88,992 |
| B-HNI (Min) | 69 | 1,242 | ₹10,03,536 |
Waterways Leisure Tourism IPO raises ₹263.25 crore from anchor investors. Waterways Leisure Tourism IPO Anchor bid date is June 22, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Jun 22, 2026 |
| Shares Offered | 32,58,045 |
| Anchor Portion (₹ Cr.) | 263.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jul 29, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Sep 27, 2026 |
Incorporated in November 2020, Waterways Leisure Tourism Limited is one of India’s leading domestic ocean cruise operators, offering luxury cruise experiences focused on Indian culture, hospitality, entertainment, and cuisine. The company operates the cruise vessel MV Empress, which sails to destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, Puducherry, and select international destinations such as Sri Lanka, Thailand, Singapore, and Malaysia.
As of March 31, 2026, over 730,000 guests had sailed on its cruises, covering more than 321,000 nautical miles. The company held approximately 79% market share by value in India’s domestic ocean cruise industry in Fiscal 2025. MV Empress features 796 cabins, including suites, ocean-view cabins, and interior staterooms, along with amenities such as restaurants, entertainment shows, casino, spa, fitness center, swimming pools, gaming arcade, children's academy, and MICE and wedding facilities.
The company follows an asset-light operating model by outsourcing key cruise functions such as food & beverage, housekeeping, crewing, and entertainment, enabling operational efficiency and scalability. A majority of bookings are generated directly through its website, mobile application, call centers, and customer service channels. Waterways Leisure Tourism is positioned to benefit from the growing cruise tourism industry in India and plans to expand its fleet with Norwegian Sky and Norwegian Sun.
As of March 31, 2026, the company had 245 permanent employees.
Key Strengths
Waterways Leisure Tourism Ltd.'s revenue decreased by 2% and profit after tax (PAT) dropped by 69% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 341.78 | 247.37 | 399.20 |
| Total Income | 586.99 | 597.68 | 452.15 |
| Profit After Tax | 52.14 | 168.19 | -122.73 |
| EBITDA | 117.48 | 215.46 | 111.15 |
| NET Worth | 80.20 | 32.78 | -118.07 |
| Reserves and Surplus | 15.05 | -31.90 | -182.75 |
| Total Borrowing | 101.90 | 30.44 | 5.18 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| UHM Vacation Ltd. | SME | ₹36.00 Cr | ₹166 | ₹126.20 | -23.98% | ₹92.95 (-4.96%) |
| Western Overseas Study Abroad Ltd. | SME | ₹10.07 Cr | ₹56 | ₹52.16 | -6.86% | ₹20.65 (+3.25%) |
| Helloji Holidays Ltd. | SME | ₹10.97 Cr | ₹118 | ₹123.90 | +5.00% | ₹120.05 (-3.11%) |
| LGT Business Connextions Ltd. | SME | ₹28.09 Cr | ₹107 | ₹81.35 | -23.97% | ₹42.06 (-3.42%) |
| TSC India Ltd. | SME | ₹25.89 Cr | ₹70 | ₹71.40 | +2.00% | ₹27.00 (-1.64%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment towards deposit/ advanced lease rental and monthly lease payments to stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt.Ltd. (Baycruise IFSC). | 480.01 |
| 2 | General Corporate Purposes | |
| Total | 480.01 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 0.92% |
| ROCE | 1.14% |
| Debt/Equity | 1.27 |
| RoNW | 92.70% |
| PAT Margin | 0.09% |
| EBITDA Margin | 0.20% |
| Price to Book Value | 65.64 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.00 | |
| P/E (x) | 100.96 | |
| Promoter Holding | 99.27% | 89.35% |
Lead Manager Reports
Waterways Leisure Tourism IPO is a main-board IPO of 72,40,099 equity shares of the face value of ₹10 aggregating up to ₹585 Crores. The issue is priced at ₹769 to ₹808. The minimum order quantity is 18.
The IPO opens on Tue, Jun 23, 2026, and closes on Thu, Jun 25, 2026.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Waterways Leisure Tourism IPO using UPI as a payment gateway. Zerodha customers can apply in Waterways Leisure Tourism IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Waterways Leisure Tourism IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Waterways Leisure Tourism IPO opens on Tue, Jun 23, 2026 and closes on Thu, Jun 25, 2026.
Waterways Leisure Tourism IPO lot size is 18, and the minimum amount required for application is ₹14,544.
You can apply in Waterways Leisure Tourism IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Waterways Leisure Tourism IPO will be done on Monday, June 29, 2026, and the allotted shares will be credited to your demat account by Tue, Jun 30, 2026. Check the Waterways Leisure Tourism IPO allotment status.
The Waterways Leisure Tourism IPO listing date is not yet announced. The tentative date of listing is Wed, Jul 1, 2026.
