Waterways Leisure Tourism IPO Vs Advit Jewels IPO: Which IPO Could Give Bigger Listing Gains? Check Latest GMP

Two new mainboard issues hit the market today as with Waterways Leisure Tourism IPO and Advit Jewels IPO open for subscription on June 23. While both IPOs opened on the same day and will close on June 25, the first day's subscription data has a vast difference between the both.

On the Day 1, Advit Jewels IPO was leading with strong subscription numbers and a huge grey market premium (GMP), whereas Waterways Leisure Tourism IPO saw a relatively muted response.

Advit Jewels IPO Subscription Status & Details

By the end of trading hours, Advit Jewels IPO was subscribed 9.39 times overall on Day 1 with massive demand across investor categories. The retail portion was subscribed 10.27 times, while the QIB category was subscribed 1.09 times. The Non-Institutional Investor (NII) segment recorded a subscription multiple of 18.38.

The public issue is worth Rs. 165.16 crore and comprises an entirely fresh issue of 1.20 crore equity shares. The Advit Jewels IPO has been priced in the band of Rs. 130 to Rs. 138 per share, with a retail investor required to invest a minimum of Rs. 13,800 for one lot of 100 shares. The allotment is expected on June 29, while the shares are likely to list on the NSE and BSE on July 1.

Advit Jewels IPO GMP: The IPO is also enjoying a healthy grey market premium. The latest Advit Jewels IPO GMP as per Investorgain day stands at Rs. 64, indicating an estimated listing price of around Rs. 202, translating into a potential listing gain of 46.38% over the upper price band.

Waterways Leisure Tourism IPO Subscription Status

Waterways Leisure Tourism IPO, on the other hand, received a slower response on the opening day and was subscribed just 0.17 times overall. The retail investor category was subscribed 0.87 times, while the QIB portion remained unsubscribed at 0.00 times. The Non-Institutional Investor category was subscribed 0.03 times.

The IPO is a Rs. 585 crore fresh issue comprising 0.72 crore equity shares. The company has fixed a price band of Rs. 769 to Rs. 808 per share, and retail investors need to invest at least Rs. 14,544 for one lot of 18 shares. Similar to Advit Jewels IPO, the allotment is expected on June 29, while the shares are tentatively scheduled to list on July 1.

Waterways Leisure Tourism IPO GMP: The grey market premium for Waterways Leisure Tourism IPO was quite modest at Rs. 10, suggesting an estimated listing price of around Rs. 818 and an expected listing gain of just 1.24% over the upper price band.

Which One Should You Subscribe?

Waterways Leisure Tourism operates Cordelia Cruises which is one of India's leading domestic cruise operators, and is expected to benefit from the country's growing cruise tourism industry With the grey market premium indicating limited listing gains, Beacon Capital Advisors Pvt. Ltd & Swastika Investmart have assigned a 'Neutral' outlook due to expensive valuations, the IPO may be more suitable for long-term investors rather than those seeking short-term listing gains.

On the other hand Advit Jewels IPO is currently more in demand. Canara Bank securities in its report said, "Advit Jewels Limited can be viewed as a Subscribe candidate in the niche handcrafted Kundan and Polki jewellery segment. Backed by the century -old Rambhajo legacy, the company has shown strong revenue growth, healthy EBITDA margins of around 30%, and a business model that benefits from premium positioning in the high-end wedding and bridal market."

Similarly, Swastika investmart in its report highlighted, "Advit Jewels' revenue nearly tripled from Rs. 46.6 Cr (FY24) to Rs. 124.94 Cr (FY26), but the company is still tiny compared to well below peers like RBZ and Radhika Jeweltech."

"We recommend subscribing to the Advit Jewels IPO with a short-to-mid term perspective, and for Listing gain." it further added.

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