Waterways Leisure Tourism Limited, one of India’s leading domestic ocean cruise operators, has raised ₹263.25 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription on June 23, 2026.
In an exchange filing, the company announced that it had allotted 3,258,045 equity shares to anchor investors at ₹808 per share.
The anchor book attracted participation from several 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 worth up to ₹585 crore and will remain open for subscription until June 25, 2026. Investors can bid for a minimum of 18 equity shares and in multiples of 18 thereafter. The issue is being made through the book-building process, with not less than 75 per cent of the net offer reserved for qualified institutional buyers, while non-institutional bidders and retail individual investors will receive at least 15 per cent and 10 per cent of the allocation, respectively.
According to the company, proceeds of up to ₹480 crore from the fresh issue will be utilised 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 currently operates the MV Empress, which has hosted 730,819 guests and sailed more than 321,292 nautical miles across India’s coastline and neighbouring countries as of March 31, 2026. Citing a CRISIL report, the company said it held an estimated 79 per cent market share by value in India’s cruise tourism segment during FY2025.
The cruise line offers domestic sailings to Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry, while its international itineraries cover Hambantota, Trincomalee and Jaffna in Sri Lanka, Phuket in Thailand, and Singapore, Kuala Lumpur and Langkawi in Malaysia.
Centrum Broking Limited is the book-running lead manager to the issue, while MUFG Intime India Private Limited is acting as the registrar.
