Waterways Leisure Tourism Ltd, the operator of Cordelia Cruises, will launch its initial public offering (IPO) next week, targeting ₹585 crore. The IPO price band is fixed between ₹769 and ₹808 per share, with a face value of ₹10 each. The subscription window will open on June 23 and close on June 25, with shares scheduled to list on Indian exchanges, according to livemint.com.
Cordelia Cruises operates primarily through Indian ports and has expanded its fleet beyond its sole vessel, MV Empress, by adding two ships: Norwegian Sky and Norwegian Sun. This move positions Cordelia as the first Indian cruise line to go public. The company’s fresh issue of shares aims to raise capital to support its growth and fleet expansion plans, as detailed by livemint.com.
The IPO marks a significant milestone in India’s nascent cruise tourism sector, which has seen limited public listings so far. Cordelia Cruises’ entry into the public markets could set a precedent for other players in the leisure and tourism industry. The ₹585 crore issue size places it among notable mid-sized IPOs in the Indian travel and hospitality domain, highlighting growing investor interest in experiential travel services, per livemint.com.
The IPO subscription period will run from June 23 to June 25, with share allotment and listing expected shortly thereafter. Cordelia Cruises’ public debut will be closely watched as the first Indian cruise line to tap public equity, a move that could influence the sector’s capital-raising landscape, according to livemint.com.