Mumbai, Maharashtra, 20th of June 2026 : Waterways Leisure Tourism Limited, a company that has played a key role in elevating cruise tourism in India, is set to launch its much-awaited Initial Public Offering (IPO) on June 23, 2026. The company has fixed a price band of ₹769 to ₹808 per equity share. The IPO will remain open for subscription until June 25, 2026.
According to the company, investors can bid for a minimum of 18 equity shares and in multiples of 18 thereafter. A significant portion of the ₹585 crore fresh issue will be utilized for lease payments and deposits related to the company’s step-down subsidiary, Becruise Shipping and Leasing (IFSC) Private Limited, while the remaining proceeds will be used for general corporate purposes.
“Cruise tourism in India has emerged as a growing luxury and experiential travel segment. Rising incomes, changing travel preferences, and the expansion of domestic tourism have provided fresh momentum to the industry.”
Waterways Leisure Tourism currently operates its flagship cruise vessel, MV Empress. Since its inception through March 31, 2026, more than 730,000 passengers have traveled aboard its cruises. During this period, the vessel has covered over 321,000 nautical miles.
According to a CRISIL report, the company held an estimated 79% share of India’s cruise market by value in FY2025, making it the dominant player in the country’s cruise tourism sector.
“MV Empress is not just a cruise ship; it is a floating showcase of Indian culture, cuisine, and hospitality, offering travelers a unique experience of India’s diversity while at sea.”
The company’s domestic routes include popular destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry. Internationally, it operates voyages to Hambantota, Trincomalee, and Jaffna in Sri Lanka; Phuket in Thailand; Singapore; and Kuala Lumpur and Langkawi in Malaysia.
MV Empress features 796 cabins and can accommodate up to 2,005 passengers at a time. As part of its expansion strategy, the company plans to add two new vessels, Norwegian Sky and Norwegian Sun, to its fleet. These additions are expected to significantly enhance capacity and enable the company to serve a larger customer base.
“With the inclusion of these new ships, the company aims not only to expand passenger capacity but also to further strengthen its leadership position in India’s cruise tourism industry.”
Beyond leisure travel, the company also offers specialized facilities for corporate meetings, incentive programs, conferences, exhibitions, and destination weddings. Demand for such events at sea has been steadily increasing, creating additional revenue opportunities for the company.
Amid the growing popularity of experiential tourism in India, Waterways Leisure Tourism’s IPO is being viewed as a significant opportunity for investors to participate in the country’s rapidly evolving cruise tourism industry.
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