The initial public offering (IPO) of , the operator of Cordelia Cruises, was subscribed 0.15 times as of 3.18 pm on the first day of bidding, driven largely by retail investor demand.
The retail investors’ portion was subscribed 0.77 times, while the non-institutional investors (NII) category saw a muted response with subscriptions of 0.03 times. The qualified institutional buyers (QIB) segment had not received any bids at the time.
Ahead of the IPO opening, the company raised ₹263.25 crore from anchor investors. According to a BSE circular, Waterways Leisure Tourism allotted 32.58 lakh equity shares to eight anchor investors at ₹808 per share.
Anchor investors include Baroda BNP Paribas Mutual Fund, Cullinan Opportunities Fund, Zeal Global Opportunities Fund, M7 Global Fund, Nova Global Opportunities Fund, Stellar Growth Fund, ASAS Global Fund and Maybank Securities.
IPO details
The company has fixed which opened for subscription on June 23 and will close on June 25.
The IPO comprises an entirely fresh issue of equity shares with no offer-for-sale (OFS) component.
Waterways Leisure Tourism plans to utilise the net proceeds towards lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd, as well as for general corporate purposes.
The company operates Cordelia Cruises, India’s domestic ocean cruise brand, offering luxury cruise vacations across domestic and international destinations.
Centrum Broking is the sole book-running lead manager to the issue, while MUFG Intime India is acting as the registrar.