Cordelia Cruises parent sets ₹769-808 band for ₹585-crore IPO, opens June 23
Waterways Leisure Tourism priced its ₹585-crore IPO at ₹769-808 per share with a June 23-25 window. Bulk of proceeds (₹480 crore) funds lease deposits for two new vessels. FY26 profit slipped to ₹52 crore from ₹168 crore on expansion costs, while revenue held near ₹580 crore. Operator has carried 7 lakh passengers since Sept 2021.
What happened
Waterways Leisure Tourism, operator of Cordelia Cruises, priced its ₹585-crore IPO at ₹769-808 per share, opening June 23-25. Proceeds fund lease deposits for
Key facts
- price band ₹769-808
- IPO size ₹585 crore
- fresh issue 7.2 million shares
- ₹480 crore for vessel lease deposits
- FY26 revenue ₹580 crore
- FY25 revenue ₹590 crore
- FY26 net profit ₹52 crore
- FY25 net profit ₹168 crore
- 7 lakh passengers since Sept 2021
- bid lot 18 shares
- IPO open June 23-25
Why this matters
India's only homegrown ocean cruise operator going public at this scale signals the cruise tourism thesis is investable, opening windows for port partnerships, hospitality tie-ups, and adjacent leisure M&A in the next 12-18 months.