Waterways Leisure Tourism IPO Sees 39% Subscription on Day Two; Retail Portion Fully Booked
Cordelia Cruises operator, Waterways Leisure Tourism, saw a measured response from investors as its Initial Public Offering (IPO) registered a 39 percent subscription on the second day of the share sale. The company is set to move forward with an allotment process expected in late June, following strong interest specifically from the retail investor segment.IPO Subscription Status and Key Figures
As reported by NSE data till 1:50 pm, the offering received bids for 16.52 lakh shares against a total issue size of 41.84 lakh shares. While the overall subscription stands at 39 percent, the retail investor quota has seen robust demand, achieving a 1.88 times subscription rate.The non-institutional investor portion of the IPO garnered a smaller response, subscribing at a level of 19 percent. This mixed reception suggests cautious optimism among institutional participants compared to the strong uptake from individual investors.
Anchor Investment and Company Operations
Prior to the current public offering phase, Waterways Leisure Tourism successfully raised Rs 263.25 crore through anchor investor subscriptions. The company, which operates Cordelia Cruises, is India's domestic ocean cruise brand, providing luxury cruise experiences across various domestic and international destinations.The IPO proceeds are earmarked for strategic corporate purposes and to settle lease payments related to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd.
Allotment and Listing Schedule
Investors interested in the Waterways Leisure Tourism IPO can expect the allotment to be finalized on June 29th. The official process will be managed through the registrar MUFG Intime India. Following the allotment date, the share listing for Waterways Leisure Tourism is proposed to take place on July 1st.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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