Waterways Leisure Tourism IPO Day 2: Subscription Status and GMP
The initial public offering (IPO) of Waterways Leisure Tourism has witnessed strong investor interest on the second day of bidding, with subscription reaching 85% as of 5:00 PM. The IPO, which opened on June 23 and closes on June 27, has received bids for 1.7 crore shares against the offered 2 crore shares, according to data from the Bombay Stock Exchange (BSE).
Subscription Details by Investor Category
Breaking down the subscription figures, the retail individual investors (RIIs) category was subscribed 1.2 times, while the qualified institutional buyers (QIBs) portion was subscribed 0.6 times. The non-institutional investors (NIIs) category saw 0.8 times subscription. The company aims to raise ₹200 crore through the IPO, with a price band of ₹120-125 per share.
Grey Market Premium (GMP) Today
In the grey market, the shares of Waterways Leisure Tourism are commanding a premium of ₹45 over the upper price band, indicating a potential listing gain of around 36%. The GMP has remained stable over the past two days, reflecting sustained investor confidence. Market analysts attribute the positive sentiment to the company's strong growth prospects in the leisure tourism sector.
Company Overview and Business Prospects
Waterways Leisure Tourism operates a fleet of luxury cruise ships and riverboats, offering leisure and tourism services on major Indian waterways. The company has reported a revenue growth of 25% year-on-year for the fiscal year 2025-26, with net profit increasing by 30%. According to the company's red herring prospectus (RHP), the IPO proceeds will be used to expand the fleet and enhance operational capabilities.
Analyst Views and Recommendations
"The IPO is attractively priced given the company's market position and growth trajectory. We recommend subscribing for long-term gains," said a senior analyst at SMC Global Securities. Another analyst from Motilal Oswal noted, "The GMP suggests a strong listing, but investors should consider the inherent risks in the tourism sector."
Key Dates and Listing Details
The IPO bidding closes on June 27. The allotment is expected to be finalized on June 30, with refunds initiated on July 1. The shares are likely to be listed on BSE and NSE on July 5. The company has appointed SBI Capital Markets as the lead manager for the issue.
