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  1. Cordelia Cruises shares list at nearly 16% discount on NSE; here's how much investors lost per lot

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Cordelia Cruises shares list at nearly 16% discount on NSE; here's how much investors lost per lot

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.

2 min read | Updated on July 01, 2026, 10:00 IST

SUMMARY

The initial share sale of Cordelia Cruises operator Waterways Leisure Tourism, with a price range of ₹769 to ₹808 per share, was exclusively a fresh issuance of shares worth ₹585 crore.

Waterways Leisure Tourism operates India's domestic ocean cruise brand, Cordelia Cruises. | Image: cordeliacrusies.com

Waterways Leisure Tourism operates India's domestic ocean cruise brand, Cordelia Cruises. | Image: cordeliacrusies.com

Shares of Cordelia Cruises operator Waterways Leisure Tourism Ltd started trading at ₹681 apiece on the National Stock Exchange (NSE) on Wednesday, July 1.

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This reflects a discount of 15.72% against the IPO issue price of ₹808 per share.

On the BSE, it debuted at ₹690, down 14.60% from the issue price.

Waterways Leisure Tourism share price: Here's how much investors lost

The lot size for an application was 18 shares. Investors who received Cordelia Cruises IPO allotment saw their investment value drop to ₹12,258 per lot

The initial share sale, with a price range of ₹769 to ₹808 per share, was exclusively a fresh issuance of shares worth ₹585 crore.

The fresh issue proceeds to the tune of ₹480.01 crore will be used for lease payment of step-down unit Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining funds will be used for general corporate purposes.

The IPO was subscribed 1.09 times. It got bids for 45,41,724 shares compared to 41,84,004 shares on offer, according to the BSE data.

CategoryReservedNo of Shares Bid ForNo of Times
Qualified Institutional Buyers22,82,18411,80,90852%
Non-Institutional Investors11,41,09210,30,48290%
Retail Investors7,60,72823,30,3343.06 times
Total41,84,00445,41,7241.09 times

Prior to the issue, the company mobilised ₹263.25 crore from anchor investors, including Zeal Global Opportunities Fund, M7 Global Fund, Baroda BNP Paribas Mutual Fund, Cullinan Opportunities Fund, ASAS Global Fund, Maybank Securities, Nova Global Opportunities Fund and Stellar Growth Fund.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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