The IPO market is witnessing strong activity, and another company is now set to enter the primary market.
Waterways Leisure Tourism has announced its Initial Public Offering (IPO), which will open for subscription on June 23 and close on June 25.
Investors looking for new opportunities in the cruise tourism sector may find this IPO worth tracking.
Here is everything you need to know before the issue opens.
IPO Details at a Glance
Waterways Leisure Tourism has fixed the IPO price band between Rs 769 and Rs 808 per equity share with a face value of Rs 10 each.
The company plans to raise Rs 585 crore through the public issue.
The IPO is entirely a fresh issue of around 72 lakh shares, meaning no existing shareholders are selling their stake through this offering.
Important Dates for Investors
The IPO will remain open for subscription from June 23 to June 25.
According to the tentative schedule, the share allotment is expected to be finalized on June 29. Shares are likely to be listed on both the NSE and BSE on July 1.
Centrum Capital is the book-running lead manager for the issue, while MUFG Intime India has been appointed as the registrar.
How Will the Company Use the IPO Funds?
A major portion of the money raised through the IPO will be used to support the company’s subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited.
Around Rs 480 crore will be used for deposits, lease rentals and monthly lease payments.
The remaining funds will be allocated for general corporate purposes and business requirements.
Financial Performance: Revenue Stable, Profit Drops
The company’s revenue remained largely stable during FY26.
Revenue from operations stood at Rs 580 crore in FY26 compared to Rs 597.68 crore in FY25.
However, the company’s profitability saw a significant decline.
Net profit dropped to Rs 52 crore in FY26 from Rs 168.19 crore in FY25, representing a year-on-year fall of nearly 69%.
What Does Waterways Leisure Tourism Do?
Waterways Leisure Tourism operates cruise services and currently runs the cruise vessel MV Empress.
The company has a strong presence in India’s cruise tourism market and reportedly held nearly 79% market share by value during FY25.
Its domestic cruise routes include popular destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry.
Apart from India, the company also offers international cruise itineraries to destinations including Sri Lanka, Thailand, Singapore and Malaysia.
Its cruise packages are designed to showcase coastal tourism, cultural experiences and leisure travel across multiple destinations.
Should Investors Keep an Eye on This IPO?
Waterways Leisure Tourism’s IPO comes at a time when interest in the primary market remains high.
The company operates in a niche segment with a strong position in India’s cruise tourism industry.
However, investors may also want to closely examine the sharp decline in profits before making any investment decision.
As always, reviewing the company’s financials, business outlook and valuation can help in making an informed choice.
