Waterways Leisure Tourism IPO gets subscribed 19 pc on day 1

New Delhi, Jun 23 (PTI) The initial public offer of Cordelia Cruises operator Waterways Leisure Tourism Ltd received 19 per cent subscription on the first day of the share sale on Tuesday.

The IPO got bids for 8,03,052 shares against 41,84,004 shares on offer, according to NSE data.

Retail investors received 99 per cent subscription, while the quota for non-institutional investors got subscribed 4 per cent.

Waterways Leisure Tourism on Monday raised Rs 263.25 crore from anchor investors.

The company has fixed a price band of Rs 769-808 per share for its Rs 585-crore IPO, which will conclude on June 25.

The issue is entirely a fresh issue of 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.

Centrum Broking is the sole book-running lead manager to the issue, while MUFG Intime India is the registrar. PTI SUM HVA