Cordelia Cruises parent Waterways Leisure opens Rs 585 cr IPO June 23 at Rs 769-808 band
Waterways Leisure Tourism, operator of Cordelia Cruises with 65% India cruise market share in FY24, launches its IPO June 23-25 at a Rs 5,849 crore valuation. Fresh issue proceeds will fund acquisition of Norwegian Sky and Sun vessels to expand domestic cruise capacity. FY24 revenue stood at Rs 442 crore with 9M PAT of Rs 139 crore.
What happened
Cordelia Cruises parent Waterways Leisure Tourism opens Rs 585 crore IPO June 23-25 at Rs 769-808 band, valuing the hospitality operator at Rs 5,849 crore.
Key facts
- Rs 769-808 price band
- Rs 585 crore fresh issue
- Rs 5,849.48 crore valuation
- 65% India cruise market share FY24
- Rs 442.11 crore FY24 revenue
- Rs 139.25 crore 9M PAT
Why this matters
Acquiring two ex-NCL ships signals consolidation of secondhand global tonnage into India's underpenetrated cruise market—expect Indian ports, hospitality majors, and inbound tour operators to revisit cruise-linked JVs.