Waterways Leisure Tourism IPO 2026: dates, price, GMP

Issue opens June 23 with a three-day window

Waterways Leisure Tourism’s initial public offering (IPO) opened for subscription on Tuesday, June 23, 2026 and is scheduled to close on Thursday, June 25, 2026. The offer is a mainboard issue that is planned to list on both NSE and BSE. Reports said bidding opened at 10:00 IST on the first day. Market watchers are tracking early demand, anchor participation, and grey market readings for cues on sentiment. The company is described in reports as the parent of Cordelia Cruises. The public issue is entirely a fresh issue, meaning there is no offer for sale component mentioned in the provided details.

Issue size and structure: fresh issue of ₹585 crore

The IPO size is stated as ₹585 crore and the offer is fully a fresh issue of shares worth ₹585 crore. This is the primary fund-raise size referenced across the provided information. Reports also mention that the issue attracted ₹263.25 crore from anchor investors. Beyond the anchor amount, no further break-up of use of proceeds, reservations, or objectives is provided in the source text. Investors typically watch anchor allocation as a signal of institutional interest, but subscription levels across categories still matter through the bidding period.

Price band and what investors are paying per share

Waterways Leisure Tourism fixed the price band at ₹769 to ₹808 per share. Several reports referenced calculations based on the upper end of ₹808 when discussing grey market premium (GMP) and estimated listing price. The price band is consistent across the inputs, and is the key reference point for retail and non-institutional application amounts described below.

Lot size and minimum investment amounts

The lot size is 18 shares for retail applicants. At the upper end of the band, reports said the minimum retail application amount is ₹14,544. For non-institutional investors, the details provided split the category by application size: Small NIIs need to bid for 14 lots, translating to ₹2,03,616, while Big NIIs can participate by bidding for at least 69 lots, which comes to ₹10,03,536. These figures were presented as participation thresholds based on the lot-based bidding structure.

Day 1 subscription: early prints showed muted demand

Subscription data reported during Day 1 varied by time-stamp and source. As of 10:50 AM on June 23 (Day 1), the issue was reported to be subscribed 0.04 times, with NIIs at 0.01 times, retail at 0.21 times, and QIBs not showing a figure in the table shared. Another update stated that the IPO was subscribed 0.02 times as of June 23, 2026, with retail accounting for most bids while QIB and NII participation remained muted. Separately, by the end of Day 1, one report said the issue was subscribed 0.20 times, with bids for 8.14 lakh shares against 39.82 lakh shares available. Another exchange-based snapshot cited 2,96,208 shares bid versus 41,84,004 shares on offer (until 11:52 AM), while an evening update cited bids for 6.85 lakh shares against 41.84 lakh shares on offer (till 4:10 PM), alongside a “booked 16 percent” figure.

Category-wise demand signals: retail stronger than others

Where category break-up was provided, retail demand appeared higher than institutional demand on Day 1. One update stated the retail portion fetched 85 percent subscription while the NII quota saw 3 percent subscription, with overall booking at 16 percent at that point in time. Another table snapshot mentioned QIBs at 0 times, NIIs at 0.03 times, and retail at 0.65 times at a particular reading. Because these readings are time-bound and can differ by platform and time of day, investors generally compare multiple updates and focus on end-of-day exchange data for a consolidated view.

Grey market premium (GMP): trackers showed ₹10-₹20 on Day 1

Multiple sources quoted different GMP readings for June 23. Several reports said the GMP was around ₹12 per share, implying an estimated listing price of about ₹820 based on the upper price band of ₹808, or roughly a 1.49 percent premium. Another update cited GMP at ₹10 as of 2:00 pm, implying an estimated listing price near ₹818 and an expected gain of 1.24 percent per share, while also noting that GMP is not official and is speculative. Another set of updates cited GMP at ₹20 on Day 1, implying an estimated listing price of about ₹828 (around +2.5%). Separately, one report said grey market trends over the past six sessions showed a downward trend, with a minimum GMP of ₹10 and a maximum of ₹24, based on expert opinions cited.

Key dates: allotment, refunds, demat credit, listing

The issue’s timeline is consistent across the provided details. The basis of allotment is expected to be finalised on June 29, 2026. Refunds are expected on June 30, 2026, and shares are expected to be credited to demat accounts on the same day, June 30, 2026. The tentative listing date is Wednesday, July 1, 2026, on both BSE and NSE.

Snapshot table: pricing, size, and Day 1 indicators

The information below reflects figures explicitly stated in the provided inputs, including time-bound subscription and GMP readings.

Market impact and why investors are watching these numbers

The first day’s mixed subscription snapshots point to a cautious start, with stronger retail participation in some updates and muted institutional interest in others. The IPO’s grey market indicators were also not uniform, with trackers quoting GMP levels from ₹10 to ₹20 on the same day, and some reporting a decline compared with earlier readings such as “3 percent a week back” or “3.22 percent the previous day.” Since GMP is unofficial and can change quickly, investors often weigh it alongside exchange-reported subscription and category-wise participation. The next key checkpoints in this timeline are the close of bidding on June 25 and the allotment finalisation expected on June 29.

What to track next

With the subscription window running from June 23 to June 25, the market focus typically shifts to whether QIB participation improves as the issue progresses. The allotment is expected on June 29, followed by refunds and demat credit on June 30. The shares are scheduled to list on July 1 on both NSE and BSE, which is the next fixed milestone cited in the provided schedule. Investors tracking the issue are likely to compare final subscription data and post-issue grey market readings closer to listing, while keeping in mind that GMP is not an official indicator.