Cordelia Cruises Unveils Price Band for Upcoming IPO Next Week
Cordelia Cruises' operator, Waterways Leisure Tourism Ltd., has set an initial public offering (IPO) price range of INR 769-808 per equity share. Public subscription to the listing will begin on June 23. The initial public offering (IPO), which includes a new share issuance of up to INR 585 crore, is scheduled to end on June 25.
Bids can be submitted by interested parties for a minimum of 18 equity shares and in increments of 18 shares going forward. Baycruise Shipping and Leasing (IFSC) Private Ltd., the company's step-down subsidiary, will reportedly have its monthly lease payments and deposit or advance lease rentals covered by the INR 480 crore that the latest issuance raised. The rest of the money will be used for the company's regular operations.
Operations & Financial Outlook of Cordelia Cruises
Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry are just a few of the domestic destinations served by Cordelia Cruises, operated by Waterways Leisure Tourism. International itineraries are also available from this travel agency, and they cover destinations such as Jaffna, Trincomalee, and Hambantota in Sri Lanka; Phuket in Thailand; Singapore; and Kuala Lumpur and Langkawi in Malaysia.
Each stop along the way will highlight a different coastline region and cultural heritage of India. It had a value-based market share of about 79% in FY25, according to a Crisil report that the business quoted. In terms of revenue, the corporation claimed to have a 65% market share in FY24. In terms of finances, the previous fiscal year had a profit of INR 55.3 crore, whereas the current fiscal year saw a net loss of INR 120 crore. This year's revenue was INR 442.1 crore, down 8.3% from INR 481.9 crore the previous year. The business made INR 139.3 crore in profit on INR 409.5 crore in revenue for the nine months ending in December 2024.
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Some Interesting Facts of the Story |
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1.Cruise tourism in India is still at an early stage
compared to global markets, giving Cordelia Cruises substantial room for
future growth. 2.Waterways Leisure Tourism's IPO is among the few
public offerings in India's travel and cruise tourism sector, making it a
notable listing for tourism-focused investors. 3.The company showcases India's coastal and cultural
heritage through itineraries that span multiple states and neighboring
countries. |
India Promoting Cruise Tourism
India has pledged to construct an additional twenty-seven cruise ports. More ships have been added to Cordelia Cruises' list as a result of government measures to increase marine capacity, including the Sagarmala Project and the Cruise Bharat Mission.
A PIB statement from April 2025 states that India's Cruise Bharat Mission will continue until March 2029, starting in October 2024. The initiative's stated goal is to help India realise its potential as a world-class cruise destination and realise its aspiration of becoming a cruise tourist powerhouse.
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Quick Shots |
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•Cordelia Cruises operator Waterways Leisure Tourism
Ltd. has fixed the IPO price band at INR 769-808 per share. •The public issue will open on June 23 and close on
June 25. •The IPO consists entirely of a fresh issue worth
INR 585 crore. •Investors can bid for a minimum of 18 shares and in
multiples thereafter. |
