Waterways Leisure Tourism Ltd is scheduled to list its shares on the BSE and NSE at 10:00 IST on Wednesday, July 1, with grey market indicators pointing to a discount debut.
The initial public offering, which concluded its subscription window on Thursday, June 29, attracted a muted overall response, subscribing 1.46 times.
While retail investors showed strong interest, the lackluster participation from institutional buyers has cast doubt on immediate market appetite for the ocean cruise operator.
Grey market premiums (GMP) have turned negative, with tracking websites indicating shares are expected to list at a discount of approximately 6.31% below the issue price.
This pricing signal suggests that early trading may be pressured as investors digest the subdued demand profile.
The allotment process was finalized on Monday, June 29, setting the stage for a debut that contrasts with the typically bullish sentiment seen in recent Indian IPOs.