Waterways Leisure Tourism Limited has raised INR 263.25 crore from anchor investors ahead of the launch of its initial public offering (IPO), which opens for public subscription on June 23, 2026.
According to a filing with the stock exchanges, the company allotted 3,258,045 equity shares to anchor investors at INR 808 per share. The anchor book attracted participation from several domestic and international institutional investors, including 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.
The IPO comprises a fresh issue of equity shares aggregating up to INR 585 crore. The public issue will remain open from June 23 to June 25, 2026. Investors can bid for a minimum of 18 equity shares and in multiples thereof.
Under the book-building process, not less than 75 per cent of the net offer is reserved for qualified institutional buyers, while non-institutional investors and retail individual investors will receive allocations of not less than 15 per cent and 10 per cent respectively.
The company plans to utilize INR 480 crore from the net proceeds towards deposits, advance lease rentals and monthly lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited. The remaining funds will be used for general corporate purposes.
Waterways Leisure Tourism operates the cruise vessel MV Empress and has emerged as a significant player in India’s cruise tourism segment. As of March 31, 2026, more than 730,000 guests had traveled aboard the vessel, which has covered over 321,000 nautical miles across Indian coastal waters and neighboring countries.
According to a CRISIL report cited by the company, Waterways Leisure Tourism held an estimated 79 per cent market share by value in India’s domestic ocean cruise segment during Fiscal 2025.
The company operates itineraries connecting destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry. International routes cover Hambantota, Trincomalee and Jaffna in Sri Lanka, as well as Phuket, Singapore, Kuala Lumpur and Langkawi. Through these offerings, the company aims to promote coastal tourism and cultural experiences while expanding the reach of cruise holidays among Indian travelers.
