Waterways Leisure Tourism Limited IPO Details

Factual IPO information from public filings. Not investment advice.

Issue Details

Price Band: ₹769 – ₹808
Lot Size: 18 shares
Min. Investment: ₹14,544
Total Issue Size: ₹585 Cr; 72,40,099 shares
Fresh Issue: ₹585 Cr; 72,40,099 shares
Offer for Sale: ₹0 Cr
Face Value: ₹10 per share
Issue Type: Book-built IPO
Listing At: BSE, NSE
Shares Pre-Issue: 6,51,54,444
Shares Post-Issue: 7,23,94,543

Lot Size & Investment

1 lot = 18 shares

Retail (min)

1 lot · 18 shares

Retail (max)

13 lots · 234 shares

S-HNI (min)

14 lots · 252 shares

Application	Lots	Shares	Amount
Retail	1	18	₹14,544
Small HNI (S-HNI)	14	252	₹2,03,616
Big HNI (B-HNI)	69	1,242	₹10,03,536

Financial Performance

Restated figures in ₹ crore, unless stated otherwise

Financial performance by period
Period	Mar-26	Mar-25	Mar-24
Assets	341.78	247.37	399.2
Total Income	586.99	597.68	452.15
Profit After Tax	52.14	168.19	-122.73
EBITDA	117.48	215.46	111.15
Net Worth	80.2	32.78	-118.07
Reserves & Surplus	15.05	-31.9	-182.75
Total Borrowing	101.9	30.44	5.18

Key Performance Indicators

Key performance indicators
Period	Mar-26
RoNW (%)	92.7
EPS (₹)	8
P/E (pre-issue)	100.96
P/E (post-issue)	112.18

About Waterways Leisure Tourism Limited

Incorporated in November 2020, Waterways Leisure Tourism Limited is one of India’s leading domestic ocean cruise operators, offering luxury cruise experiences focused on Indian culture, hospitality, entertainment, and cuisine. The company operates the cruise vessel MV Empress, which sails to destinations including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, Puducherry, and select international destinations such as Sri Lanka, Thailand, Singapore, and Malaysia. As of March 31, 2026, over 730,000 guests had sailed on its cruises, covering more than 321,000 nautical miles. The company held approximately 79% market share by value in India’s domestic ocean cruise industry in Fiscal 2025. MV Empress features 796 cabins, including suites, ocean-view cabins, and interior staterooms, along with amenities such as restaurants, entertainment shows, casino, spa, fitness center, swimming pools, gaming arcade, children's academy, and MICE and wedding facilities. The company follows an asset-light operating model by outsourcing key cruise functions such as food & beverage, housekeeping, crewing, and entertainment, enabling operational efficiency and scalability. A majority of bookings are generated directly through its website, mobile application, call centers, and customer service channels. Waterways Leisure Tourism is positioned to benefit from the growing cruise tourism industry in India and plans to expand its fleet with Norwegian Sky and Norwegian Sun. As of March 31, 2026, the company had 245 permanent employees. Key Strengths Leading domestic ocean cruise operator in India with strong market share. Pioneer in India-focused luxury cruise tourism. Unique blend of Indian culture, cuisine, and entertainment experiences. Diverse onboard amenities catering to families, leisure travelers, and corporate groups. Strong direct booking network supporting higher margins. Asset-light model through outsourced cruise operations. Expansion plans with additional cruise vessels and destinations.