Waterways Leisure Tourism
Parent of Cordelia Cruises — India's only domestic ocean cruise operator.
Last updated 6 Aug 2026, 9:21 am IST
- Price band
- ₹769 – ₹808
- Lot size
- 18 shares
- Issue size
- ₹585 Cr
- Opens
- 23 Jun 2026
- Closes
- 25 Jun 2026
- Exchange
- Both
The numbers
- GMP
- ₹5 (~0.6%)
- Subscription
- 0.69× (final)
- Listing gain
- -15.72% (NSE) / -14.60% (BSE)
- Listing date
- 1 Jul 2026
- Model prediction
- Predicted ~+0.6% GMP, call Subscribe (leaned on Anil + monopoly; demand weak 0.69×). Actual: −15.7% NSE / −14.6% BSE. Big miss — weak subscription should have forced Neutral.
Anil Singhvi's take
Anil Singhvi: subscribe for both listing gains and long term; conservative investors keep a stop-loss below ₹765 after listing.
View on X →The Ticker Tales take
A rare monopoly play — India's only home-grown ocean cruise line (Cordelia Cruises), ~79% market share. —— How we built the call: GMP was thin at ₹5 (~0.6%) and demand was actually weak — the issue closed just 0.69× subscribed (undersubscribed) — but Anil Singhvi publicly backed it as a Subscribe for both listing gains and the long term, and that endorsement plus the monopoly angle anchored our Subscribe call (locked at close, 25 Jun). Honestly, the 0.69× subscription was a red flag our optimism underweighted. —— Prediction vs reality: GMP implied only ~+0.6%, and the stock listed sharply lower — down ~15.7% on NSE (₹681) and ~14.6% on BSE (₹690) versus ₹808. This was our biggest miss: the weak demand should have pulled the call to Neutral; a Subscribe on a barely-subscribed IPO didn't hold on debut. The long-term cruise-monopoly thesis is intact, and Anil's stop-loss (below ₹765) is now especially relevant. Final call — locked at close on 25 Jun.
More details
- Moat
- India's only domestic ocean cruise operator (~79% market share)
- Business
- Cruise tourism & hospitality (Cordelia Cruises)
- GMP as of
- 25 Jun 2026
- Allotment date
- 29 Jun 2026
- Anil Singhvi - Long-term call
- Subscribe (long term)
- Anil Singhvi - Listing-gain call
- Reasonable listing gains
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.