Cordelia Cruises operator opens Rs 585 cr IPO at Rs 769-808; Day 1 subscribed 5%
Waterways Leisure Tourism, parent of India's sole domestic ocean cruise brand Cordelia Cruises, launched its Rs 585 crore IPO after mopping up Rs 263.25 crore from anchors. Day 1 subscription stood at 5% with a muted GMP of Rs 12. Company commands 79% market share in FY25 with ATP of Rs 10,980 on the 2,005-guest MV Empress.
What happened
Waterways Leisure Tourism, operator of India's only domestic ocean cruise brand Cordelia Cruises, opened its Rs 585 crore IPO at Rs 769-808 band; subscribed 5%
Key facts
- Rs 585 crore IPO
- Price band Rs 769-808
- Rs 263.25 crore anchor
- GMP Rs 12
- 79% market share FY25
- ATP Rs 10,980
- APD Rs 12,036 FY26
- 2,005-guest MV Empress
Why this matters
Waterways' monopoly status and Rs 585 cr raise position it as the default consolidator or strategic target in India's nascent leisure-cruise category.