The initial public offering (IPO) of Waterways Leisure Tourism, the operator of the Cordelia Cruises brand, saw muted investor enthusiasm on Thursday, its third and final day of bidding and is still not fully subscribed. The issue was subscribed 69% overall against 41.84 lakh shares on offer, reflecting cautious participation. While the retail investor segment attracted stronger interest and was oversubscribed three times, demand from institutional investors remained weak.
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.
