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InvestmentsIPOWaterways Leisure Tourism IPO

Waterways Leisure Tourism IPO

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Open Date

23 Jun 2026

Close Date

25 Jun 2026

Min Investment

₹ 13,842

Lot Size

18

Issue Size

₹ 585.00 Cr

Price Range

₹ 769 - ₹ 808

Subscribed

1.45 x
status

This IPO is now Live.

Click here for live price
IPO Timeline
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IPO Offer Start
23 Jun 2026
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IPO Offer Ends
25 Jun 2026
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Allotment Finalisation
26 Jun 2026
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Refund Initialisation
29 Jun 2026
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Non-Institutional Buyers (sHNI)
29 Jun 2026
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Listing of Shares
30 Jun 2026
IPO Subscription Details as on 12 Nov 2026, 07:31 PM
Qualified Instituational Buyers (QiB)
0.69 x
Retail
4.17 x
Total
1.45 x
Non-Institutional Buyer (bHNI)
0.89 x
Non-Institutional Buyer (sHNI)
1.74 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company is one of the domestic ocean cruise operators in India, offering luxurious and inherent Indian experiences. The company operates the cruise vessel 'MV Empress' with a capacity of up to 2,005 guests, sailing to domestic destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry, as well as international destinations including Sri Lanka, Thailand, Singapore, and Malaysia. The company's cruise experience is designed to cater to Indian guests and international travelers, providing immersive journeys into India's rich culture, cuisine, and hospitality through diverse dining options, live entertainment inspired by Indian cinema, and comprehensive amenities including spa, casino, fitness center, and specialized arrangements for MICE events and weddings.
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Founded In

2020

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CEO

Jurgen Bailom

Financials of Waterways Leisure Tourism IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue444.06590.61579.75
Other Income8.097.087.25
Total Income
452.15597.68586.99
Total Expenses
560.40483.70508.74
Profit Before Tax-122.69189.5878.81
Total Profit
-122.73168.1952.14

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize proceeds for deposit/advance lease payment and charter hire charges to Baycruise IFSC for acquisition of vessels Norwegian Sky and Norwegian Sun on lease. The funds will cover advanced lease rental payments and monthly lease rentals post delivery date of the vessels.480
The company intends to deploy balance proceeds towards general corporate purposes including rental and administrative payments, wages, salaries, employee benefits, meeting ongoing contingencies and expenses in ordinary course of business, funding growth opportunities and strategic initiatives.-
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  • Pioneer in the ocean cruise tourism in India, well-positioned to capitalize on industry tailwinds: The company is one of the domestic ocean cruise operators in India offering luxurious and inherent Indian experiences. In Fiscal 2025, the company accounted for approximately 79% of the market share in value terms.
  • India-focused cruise experience with diverse amenities: The company's cruise experience is designed to cater to the preferences of Indian guests offering an immersive journey into India's rich culture, cuisine, and warm hospitality with diverse culinary options and live entertainment shows.
  • Significant direct bookings optimizing margins: For Fiscal 2026, 2025 and 2024, the company directly sold 62.25%, 62.98% and 59.96% of the total cabins respectively. Direct bookings reduce commissions paid to travel agents and improve margins.
  • Outsourced critical cruise operations enhancing efficiency and scalability: The company has strategically outsourced critical cruise operations to third-party service providers for food and beverages, housekeeping, crewing, and entertainment, enabling them to leverage expertise and scale operations based on seasonal demand.
  • Seasoned management team delivering financial growth: The company benefits from experienced management team with knowledge in cruise industry. Revenue from operations grew from ₹4,440.60 million in Fiscal 2024 to ₹5,797.45 million in Fiscal 2026.

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