Waterways Leisure Tourism Shares Tumble Nearly 16 PC in Market Debut Trade

New Delhi: Shares of Cordelia Cruises operator Waterways Leisure Tourism Ltd got listed with a discount of nearly 16 per cent against the issue price of Rs 808 in its debut trade on Wednesday.

The stock kickstarted the trading session at Rs 690, a decline of 14.60 per cent from the issue price on the BSE.

At the NSE, the stock started the trade at Rs 681, registering a drop of 15.71 per cent.

The company’s market valuation stood at Rs 5,131.69 crore.

The initial public offering of Waterways Leisure Tourism Ltd sailed through on the final day of bidding on Thursday last week. The IPO was overall booked 1.46 times.

The company’s Rs 585-crore IPO had a price band of Rs 769-808 per share.

The public offer comprised entirely a fresh issue of 72 lakh shares with no offer-for-sale (OFS) component. The company plans to utilise the proceeds towards lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd, and for general corporate purposes.

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

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