Mumbai, June 16 -- Cruise operator, Waterways Leisure Tourism, has filed its draft red herring prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise Rs 727 crore through Initial Public Offering (IPO).
The IPO, with a face value of Rs 10, is entirely a fresh issue of shares up to Rs 727 crore with no offer-for-sale component.
The proceeds from the fresh issue to the extent of Rs 552.53 crores for payment towards deposit/ advanced lease rental and monthly lease payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited ("Baycruise IFSC") and general corporate purposes.
The Issue is being made through the book-building process, wherein at least 75% of the is...