Cordelia Cruises operator sets IPO price band at ₹769-808, targets ₹5,849 crore valuation
Waterways Leisure Tourism, which commands 65% of India's cruise market with 549,051 guests served, opens its ₹585 crore fresh issue on June 23. Proceeds will fund two new vessels and coastal cruise hospitality expansion. FY24 revenue stood at ₹442 crore; 9M FY25 PAT hit ₹139 crore.
What happened
Cordelia Cruises operator Waterways Leisure Tourism fixed IPO price band at ₹769-808, opening June 23. Fresh issue of ₹585 crore values it at ₹5,849 crore.
Key facts
- price band ₹769-₹808
- fresh issue ₹585 crore
- post-listing valuation ₹5,849.48 crore
- FY24 revenue ₹442.11 crore
- 9M FY25 PAT ₹139.25 crore
- 65% India cruise market share
- 549,051 guests
Why this matters
Waterways' near-monopoly cruise position and fresh capital for fleet expansion make it a strategic anchor or partnership target for hospitality, travel-tech, and coastal tourism plays.