Waterways Leisure Tourism IPO opens for subscription today. Should you subscribe? (opens original article in a new tab)

Waterways Leisure Tourism's IPO opens for subscription from June 23 to 25, with proceeds allocated for lease payments and corporate purposes. The company holds a dominant position in India's cruise market but faces risks including reliance on a single vessel and capital intensity. A grey market premium of 2% suggests limited listing gains.

• Waterways Leisure Tourism's IPO opens for subscription on June 23 and closes on June 25 with a price band of Rs 769-808 per share.
• The company plans to use IPO proceeds for lease deposits, advance lease rentals, and general corporate purposes, with 79% of India's domestic ocean cruise market share in FY25.
• Brokerage firms have given a 'Neutral' rating, citing risks like reliance on a single vessel and capital intensity, with a 2% grey market premium indicating muted listing expectations.