Cordelia Cruises operator launches ₹585cr IPO, India's first cruise line listing
Waterways Leisure Tourism opens ₹585-crore IPO 23-25 June at ₹769-808 band, valuing the cruise operator at ₹5,849cr. Holds 79% domestic market share with 84.99% load factor and ₹10,979 avg ticket. ₹480cr earmarked for vessel lease deposits as fleet expands under Cruise Bharat Mission tailwinds.
What happened
Cordelia Cruises operator Waterways Leisure Tourism to launch ₹585-crore IPO from 23 June at ₹769-808 band, becoming India's first cruise line IPO. Proceeds
Key facts
- ₹585 crore IPO
- price band ₹769-808
- ₹5,849.48 crore valuation
- ₹480 crore for lease deposits
- FY26 revenue ₹579.7 crore
- FY26 net profit ₹52.1 crore
- load factor 84.99%
- avg ticket ₹10,979
- 79% market share
Why this matters
Waterways Leisure's listing crystallises a valuation comp for cruise and experiential tourism assets, opening partnership, port-tie-up, and acquisition windows before fleet expansion locks in incumbency.
Also reported by
- Mint · Companies — Same time