Waterways Leisure Tourism IPO

About this issue

Waterways Leisure Tourism listed at -38.1% against its issue price of ₹808. The book is 1.53 times subscribed overall. The grey market premium is ₹-51 (-6.3%), which is an informal figure and not a quoted price. Our call is Not Suggested, on 50% of our checks.

Segment

Mainboard

Price

₹808

Lot size

18 shares

One lot costs

₹14,544

Issue size

₹585 Cr

Grey market premium

₹-51 (-6.3%)

Subscribed

1.53x

Listed at

-38.1%

Our call

Not Suggested

What we checked

• Profitable in the latest yearPAT ₹52.14 Cr
• Profit grew year on yearPAT -69%
• Revenue grew year on yearRevenue -2%
• Borrowing under half of net worthDebt/net worth 1.27
• Return on net worth above 15%RoNW 92.7%
• Post-issue P/E under 40P/E 112.2
• Price to book under 6P/B 65.6
• Majority is fresh capital100% fresh issue
• Promoters keep at least half89.3% held post-issue
• Anchor investors participatedAnchor book placed
• Overall book more than 10× covered1.5× overall

4 further checks could not be judged, because the issue did not disclose enough. They count neither for nor against.