Waterways Leisure Tourism IPO GMP Today, Price & Details
Waterways Leisure Tourism IPO GMP Today, Price Band, Subscription Status, Allotment & Listing Details
About Waterways Leisure Tourism
Waterways Leisure Tourism operates in the leisure and tourism sector, running water-based and experiential tourism offerings — a business geared to India's fast-growing domestic travel and premium-experience demand. It combines strong operating economics with the cyclicality that comes with discretionary travel spending. The IPO was a mainboard offering on the NSE, sized at ₹585 Cr and priced at ₹769–808 per share with a face value of ₹10.
The operating financials are genuinely impressive. Revenue of ₹579.75 Cr and net profit of ₹52.14 Cr come with a healthy 20% EBITDA margin and, remarkably, an RONW of 92.70% and ROCE of 114% — extraordinary returns that point to a highly capital-efficient, asset-light model.
This was a 100% fresh issue, so the entire ₹585 Cr flows into the company — substantial capital to fund expansion in a scaling tourism business.
Waterways Leisure Tourism IPO — Investment Analysis
Here's the catch, and it's a big one: at the upper band of ₹808, Waterways was valued at a steep 106.64x earnings on an EPS of ₹7.21. That's an extraordinarily rich multiple — the kind of price that demands years of flawless, rapid growth just to be justified.
The business itself is high-quality. A 20% EBITDA margin and jaw-dropping return ratios (92.70% RONW, 114% ROCE) show a remarkably efficient operation with real scale at ₹579.75 Cr revenue. On operations alone, this is a strong company.
But the valuation is the whole story. At over 100x earnings, there is essentially no margin of safety, and discretionary-travel cyclicality, execution risk on expansion, and the sustainability of those sky-high returns all become magnified. Great business, punishing price.
The market agreed. Despite the strong operations, the issue drew only a modest 4.40x subscription, and the stock listed weakly at ₹690 against its ₹808 issue price — a loss of about 15%. Investors, it seems, balked at paying 106x. Our IPO profit calculator can size a position. Investors should consult a SEBI-registered financial advisor before making investment decisions.
Disclaimer: This analysis is auto-generated from publicly available financial data and should not be considered investment advice. Always consult a SEBI-registered financial advisor before making investment decisions.
Waterways Leisure Tourism IPO — Pros & Cons
Strengths
- Extraordinary capital efficiency, with an RONW of 92.70% and ROCE of 114% from an asset-light model.
- Genuine scale for the sector, with revenue of ₹579.75 Cr and net profit of ₹52.14 Cr.
- A healthy 20% EBITDA margin in a high-growth, experiential-tourism niche.
- Exposure to India's fast-growing domestic and premium-travel demand.
- A 100% fresh issue means the full ₹585 Cr funds expansion.
Risks
- An extreme valuation at 106.64x earnings — over 100x leaves essentially no margin of safety.
- A weak debut, listing at ₹690 against the ₹808 issue price, a loss of about 15%.
- Modest demand at just 4.40x subscription showed investors were wary of the price.
- Discretionary-travel cyclicality means demand can soften sharply in a downturn.
- The sky-high return ratios are difficult to sustain as the company scales, and the rich price magnifies any disappointment.
Waterways Leisure Tourism IPO Details
| Company Name | Waterways Leisure Tourism |
|---|---|
| IPO Type | MAINBOARD |
| Exchange | NSE |
| Price Band | ₹769 - ₹808 |
| Face Value | ₹10 per share |
| Lot Size | 18 shares |
| Min Investment | ₹14,544 |
| Total Issue Size | ₹585.00 Cr |
|---|---|
| Fresh Issue | ₹585.00 Cr |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Manager | Centrum Broking Ltd. |
| IPO Status | Listed |
Waterways Leisure Tourism IPO Dates
Waterways Leisure Tourism IPO Listing Performance
Waterways Leisure Tourism IPO listed on NSE on 01 Jul 2026 at ₹690, a discount of 14.6% below the issue price of ₹808. Investors who received allotment faced a loss of ₹2,124 per lot (18 shares) on listing day.
Waterways Leisure Tourism IPO — Key Highlights
- Leisure and tourism company, mainboard NSE IPO of ₹585 Cr.
- Extraordinary ROCE of 114% and RONW of 92.70%.
- Genuine scale, with revenue of ₹579.75 Cr.
- Extreme valuation at 106.64x earnings.
- Modest 4.40x subscription.
- Weak listing at ₹690 versus ₹808 (about -15%).
Waterways Leisure Tourism Financial Performance
| Metric (₹ Cr) | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue | 444.06 | 590.61 | 579.75 |
| Expenses | 560.40 | 483.70 | 508.74 |
| Net Income (PAT) | 122.73 | 168.19 | 52.14 |
| Margin (%) | 27.64% | 28.48% | 8.99% |
Waterways Leisure Tourism IPO Valuations & Key Metrics
Valuation Ratios
| EPS | ₹7.21 |
|---|---|
| P/E Ratio | 106.64x |
| NAV | ₹12.31 |
| Current Ratio | 8,211.00 |
| Debt/Equity | 1.270 |
Return Metrics
| RONW (%) | 92.70% |
|---|---|
| ROCE (%) | 114.00% |
| EBITDA Margin | 20.00% |
Waterways Leisure Tourism IPO Reservation / Allocation
Waterways Leisure Tourism IPO Peer Comparison
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
|---|---|---|---|---|---|
| Waterways Leisure Tourism | 112.04 | 8.02 | 92.70 | 12.31 | 579.75 |
| Chalet Hotels | 25.73 | 29.46 | 19.40 | 168.83 | 2,769.75 |
| Lemon Tree Hotels | 40.98 | 2.87 | 11.73 | 26.25 | 1,444.45 |
| Juniper Hotels | 31.90 | 6.36 | 5.06 | 128.91 | 1,047.68 |
| Samhi Hotels | 6.19 | 25.47 | 34.07 | 98.24 | 1,247.80 |
| Taj GVK Hotels & Resorts | 4.97 | 65.31 | 39.48 | 226.37 | 508.45 |
Waterways Leisure Tourism IPO Lead Manager & Registrar
Book Running Lead Manager
Centrum Broking Ltd.
IPO Registrar
MUFG Intime India Pvt.Ltd.
Waterways Leisure Tourism IPO — Frequently Asked Questions
What is Waterways Leisure Tourism IPO GMP today?
As of today, the Grey Market Premium (GMP) for Waterways Leisure Tourism IPO is ₹50 per share, indicating a potential listing premium of 6.2% above the issue price of ₹808.
What is the price band and lot size of Waterways Leisure Tourism IPO?
Waterways Leisure Tourism IPO has a price band of ₹769 to ₹808 per equity share with a face value of ₹10. The minimum lot size is 18 shares, requiring a minimum investment of ₹14,544 at the upper band.
What are the important dates for Waterways Leisure Tourism IPO?
Waterways Leisure Tourism IPO opens for subscription on 23 Jun 2026 and closes on 25 Jun 2026. Allotment is expected on 29 Jun 2026. The shares are expected to list on NSE on 01 Jul 2026.
What is the investor category allocation in Waterways Leisure Tourism IPO?
The shares are reserved as follows — Qualified Institutional Buyers (QIB): 75.00%, Non-Institutional Investors (NII/HNI): 15.00%, and Retail Individual Investors: 10.00%.
How can I apply for Waterways Leisure Tourism IPO?
You can apply for Waterways Leisure Tourism IPO through your bank's net banking ASBA facility or via UPI-based application through any stockbroker platform. Ensure you have sufficient funds in your bank account as the amount will be blocked until allotment. The registrar for this IPO is MUFG Intime India Pvt.Ltd..
What was Waterways Leisure Tourism IPO's price band and lot size?
Waterways was priced at ₹769 to ₹808 per share, with a lot of 18 shares. At the upper band the minimum retail investment came to about ₹14,544, and the face value was ₹10.
Why was Waterways Leisure Tourism IPO considered expensive?
At 106.64x earnings on an EPS of ₹7.21, it was priced at over 100 times profit — an extreme multiple that left no margin of safety, despite its strong operating returns.
How did Waterways Leisure Tourism perform on listing?
Weakly — after a modest 4.40x subscription, the stock listed at ₹690 against its ₹808 issue price, a loss of about 15%, as investors balked at the valuation.
How strong are Waterways Leisure Tourism's financials?
Operationally excellent — a 20% EBITDA margin and extraordinary return ratios of 92.70% RONW and 114% ROCE on ₹579.75 Cr revenue — but the valuation was the problem, not the business.