Cordelia Cruises parent Waterways Leisure opens Rs 585 cr IPO at Rs 769-808 band
Waterways Leisure Tourism, operator of Cordelia Cruises and India's only domestic ocean cruise player with 79% FY25 market share, launches Rs 585 crore IPO. Lot size 18 shares (Rs 14,544 min), pegging market cap at Rs 5,850 crore and EV/EBITDA at a steep 50.6x. Lists July 1 on BSE/NSE.
What happened
Cordelia Cruises parent Waterways Leisure Tourism opens Rs 585 crore IPO at Rs 769-808 band. India's only domestic ocean cruise operator with 79% market share
Key facts
- Rs 585 crore issue
- price band Rs 769-808
- Rs 5,850 crore market cap
- 79% market share FY25
- EV/EBITDA 50.6x
- lot size 18 shares
- Rs 14,544 min investment
- listing July 1
Why this matters
Waterways' Rs 5,850 cr listing sets a premium valuation benchmark for Indian experiential leisure assets, opening windows for hospitality and tourism players to monetize niche category leadership via IPO.