Shares of Cordelia Cruises operator Waterways Leisure Tourism Ltd witnessed strong buying in the early trade and jumped around 10 per cent, locking in the upper circuit at Rs 734.05, which is also the stock’s fresh 52-week high. The stock opened gap up at Rs 684.90, a gain of 2.63 per cent from the previous close of Rs 667.35 on the BSE. The scrip gained further and touched the intraday high of Rs 734.05, a gain of Rs 66.70 or 9.99 per cent from the last closing price. The company’s market cap stood at Rs 5,314.12 crore.ย
On the National Stock Exchange (NSE), the stock began trading at Rs 60 and hit the upper circuit of Rs 734.90.
Tumbled 17% on market debut
Shares of the company made a weak debut yesterday and ended with a discount of over 17 per cent against the issue price of Rs 808. The stock listed at Rs 690, a 14.60 per cent decline from the issue price on the BSE. Intra-day, it tanked 22.85 per cent to Rs 623.30. The stock ended at Rs 667.35, down 17.40 per cent.
At the National Stock Exchange (NSE), the stock opened at Rs 681, down 15.71 per cent. Shares ended at Rs 668.10, down 17.31 per cent. The company’s market valuation stood at Rs 4,831.25 crore.
In terms of traded volume, 3 lakh shares of the firm were traded on the BSE and 41.74 lakh shares on the NSE during the day.
Subscribed 1.46 times
The initial public offering of Waterways Leisure Tourism Ltd sailed through on the final day of bidding last Thursday. The IPO was booked 1.46 times.
The company’s Rs 585-crore IPO had a price band of Rs 769-808 per share.
The public offer comprised entirely a fresh issue of 72 lakh shares with no offer-for-sale (OFS) component. The company plans to utilise the proceeds towards lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd, and for general corporate purposes.
Waterways Leisure Tourism operates Cordelia Cruises, India’s domestic ocean cruise brand, offering luxury cruise experiences across domestic and international destinations.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)