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Jun 16, 2025
Cordelia Cruises's operator plans ₹727 crore IPO
Waterways Leisure Tourism, the company behind Cordelia Cruises, wants to raise ₹727 crore through a fresh IPO—no shares are being sold by existing owners. The draft prospectus is already with SEBI.
TL;DR
Pulled in ₹442 crore in revenue in FY24
Waterways Leisure Tourism runs Cordelia Cruises, offering both domestic and international cruise trips. In FY24, they pulled in ₹442 crore in revenue and are planning to add two new ships—'Norwegian Sky' and 'Norwegian Sun'—to their fleet.
IPO proceeds will cover lease payments for the ships
About ₹552 crore from the IPO will help cover lease payments for their ships via subsidiary Baycruise IFSC and support general business needs. Shares are split mostly for big institutional buyers (75%), with 15% for non-institutional investors and 10% for retail folks.