The initial public offering (IPO) of Waterways Leisure Tourism, the operator of the Cordelia Cruises brand, entered its second day of bidding with investor enthusiasm remaining muted. Grey market sentiment has also been subdued, with the IPO's grey market premium (GMP) hovering around 1%, indicating expectations of a largely flat listing.
On the first day, the issue garnered only 19% overall subscription against the 41.84 lakh shares available, reflecting cautious investor participation. While the retail investor portion attracted relatively stronger interest and was nearly fully subscribed at 99%, demand from institutional investors remained weak.
