Cordelia Cruises Operator Eyes ₹727 Crore IPO to Boost Expansion Plans

Expansion on the Horizon for Cordelia Cruises

Waterways Leisure Tourism, the proud operator of India’s sole domestic cruise line, Cordelia Cruises, is gearing up for a remarkable leap in its journey. They are on the verge of launching an Initial Public Offering (IPO) aimed at raising ₹727 crore. This major financial maneuver is primarily designed to facilitate lease payments for the cruise vessels that create unforgettable experiences for passengers on the high seas.

Market Position and Growth Strategy

Waterways Leisure has established a prominent footprint within the Indian cruise industry, boasting a formidable 65 percent market share based on value. This impressive standing, as confirmed by a CRISIL report, positions the company well to venture into expanding its fleet capacity and enhancing its itineraries. Currently, their flagship vessel, the MV Empress, departs mainly from bustling ports in Mumbai and Chennai, offering domestic and select international destinations.

Financial Overview of the IPO

As specified in the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), the IPO will consist entirely of fresh offers, meaning it will not incorporate an offer-for-sale component. Out of the ₹727 crore, a significant ₹552.53 crore has been allocated specifically for covering lease-related obligations of its subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining portion will be utilized for general corporate purposes.

Investor Allocation Strategy

The IPO follows a book-building approach, with investment allocation structured as follows:

• 75% for qualified institutional buyers
• 25% for non-institutional and retail investors

Cruise Experience and Capacity Expansion

Since its launch, the MV Empress has been a beacon in the industry, having successfully welcomed over 5.49 lakh guests and covering an impressive 2.25 lakh nautical miles. The vessel features 796 cabins across various categories, with nightly fares beginning at ₹25,230 for interior rooms and soaring to ₹1.15 lakh for the luxurious Chairman Suite. To further meet growing demand, Waterways Leisure plans to bolster its fleet with two additional vessels: the Norwegian Sky and Norwegian Sun, each designed to accommodate over 2,000 guests.

Financial Performance Metrics

Waterways Leisure reported a revenue of ₹442.11 crore for the fiscal year 2024, with ₹409.45 crore in revenue for the nine months ending December 2024. The profit after tax during this period stood at ₹139.25 crore, indicating robust financial health and a promising outlook for future expansions.

Destination Appeal and Onboard Experience

The operations of Waterways Leisure extend across various ports, including Goa, Kochi, Chennai, and Visakhapatnam, with exciting international routes that cover destinations like Sri Lanka, Thailand, Singapore, and Malaysia. The cruise experience is designed to be rich and diverse, featuring a variety of food and beverage offerings, live entertainment inspired by Indian cinema, dedicated children’s zones, rejuvenating spas, casino activities, and services tailored for weddings and corporate events.

Investment Support and Listing Plans

In this initiative, Centrum Capital, Intensive Fiscal Services, and Motilal Oswal will act as the lead book-running managers. Once the IPO is complete, shares are set to be listed on both the NSE and BSE, marking a significant milestone for the company and an exciting time for investors.

Transforming India’s Cruising Landscape

With the growing appeal of the cruise industry, the planned IPO from Waterways Leisure isn’t just a business move; it promises to reshape the domestic tourism landscape. Even as reviews and firsthand accounts are invaluable, nothing compares to the thrill of diving into a new experience yourself. Book your journey through verified providers at reasonable prices on GetExperience.com to ensure you navigate the waters of this emerging tourism sector with ease and affordability. Whether it’s for luxury adventures or family-friendly excursions, the platform provides options that fit every budget and preference. Book now at GetExperience.com.

Conclusion: Charting a New Course

In summary, Waterways Leisure’s IPO announcement presents a golden opportunity to expand and revolutionize the domestic cruise market in India. As the tourism industry steadily progresses toward more adventure activities, eco-friendly, and luxurious travel experiences, Cordelia Cruises stands at the forefront. Whether seeking thrilling cruise packages or intimate museum tours, the vast array of offerings available—ranging from yacht parties to safari tours—ensures that wanderlust travelers have endless discoveries at their fingertips. Cordelia Cruises’ plans reflect the dynamic nature of the tourism landscape, highlighting the importance of experiences that engage and inspire. The unfolding saga of this ambitious venture captures the spirit of modern travel and reinvigorates options for tourists worldwide.