The initial public offering (IPO) of Waterways Leisure Tourism, operator of the Cordelia Cruises brand, opened for subscription today and has begun on a weak note. In the early hours of Day 1, the issue saw only about 7% overall subscription against the total 42.84 lakh shares on offer, reflecting cautious investor interest. The retail segment showed relatively better traction, subscribing around 34%, but institutional demand remained subdued.
Market sentiment in the grey market also appears lukewarm, with the IPO’s grey market premium (GMP) hovering at roughly 2%, signalling expectations of a flat-to-muted listing.
