Waterways Leisure Tourism IPO subscribed 7% so far on Day 1: Check price band, lot size and key dates of Cordelia Cruises' parent

Cordelia Cruises operator Waterways Leisure Tourism's initial public offering opened for subscription on Tuesday, June 23. The issue will conclude June 25. The price band has been set at ₹769 to ₹808 per share.

The initial share sale seeks to raise ₹585 crore solely via a fresh issuance of shares. There is no offer for sale component.

The proceeds from the issue will be used towards payment of advanced lease rental and monthly lease payment of the company's step-down unit Baycruise Shipping and Leasing (IFSC) Private Ltd. A portion will also be used for general corporate purposes.

The least investment for a retail investor is 18 shares. The company has set aside 75% of the offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Waterways Leisure Tourism IPO Day 1: Subscription status

The issue has been subscribed 7% so far on the first day of bidding on Tuesday. It secured bids for 2,96,208 shares as against 41,84,004 shares on offer, according to the NSE data until 11:52 am.

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

The company allotted 32.58 lakh shares to eight anchor investors at the upper price band of ₹808 apiece.

Waterways Leisure Tourism IPO timeline

Waterways Leisure Tourism Ltd operates India's domestic ocean cruise brand Cordelia Cruises, providing luxury cruise experiences across domestic and international destinations.