Cordelia Cruises Set to Launch a ₹727 Crore IPO for Fleet Expansion

Cordelia Cruises and Its Ambitious Plans

The Indian cruise line, Cordelia Cruises, operated by Waterways Leisure Tourism, is preparing to raise INR 727 crore through an initial public offering (IPO). Proceeds from this endeavor will play a key role in expanding the company’s fleet and portfolio of travel routes.

Current Market Position

According to recent data, Waterways Leisure Tourism Limited commands a significant 65 percent share of the domestic cruise market, a testament to its foothold in this exciting sector. The IPO follows the submission of a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), marking a pivotal moment in the company’s journey.

Proceeds Utilization

A majority of the funds raised, specifically INR 552.53 crore, is allocated towards the lease payments of cruise vessels through its subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining funds will be channeled into general corporate purposes, positioning the company for strategic growth.

The Series of Changes

With the IPO, Cordelia Cruises aims to enhance its current offerings, including expanding the renowned MV Empress, which serves primarily from Mumbai and Chennai, with destinations that also span international territories. The ship, equipped with 796 cabins, has garnered attention for its diverse amenities, making it an enticing travel option for both domestic and international guests.

Expansion of Fleet

Unique Offerings

Sailing with Cordelia Cruises promises a variety of entertainment options, including food and beverage services inspired by regional cuisine, live entertainment, and specialized areas for children. Additionally, themed events such as weddings and MICE (Meetings, Incentives, Conferences, and Exhibitions) services showcase the versatility of its offerings.

Recent Performance Metrics

Reflecting on financial performance, the company reported revenues of INR 442.11 crore for FY24, alongside a notable profit after tax of INR 139.25 crore during the nine months leading to December 2024. This growth narrative underscores the company’s upward trajectory aligned with the growing interests in domestic cruising experiences.

Travel Connectivity

As cruises increasingly become a favored travel mode, especially through routes spanning popular regions like Goa, Kochi, and Lakshadweep, it’s pivotal for related services, such as taxis and transfers, to be seamless and efficient. This complements the growth of cruise tourism, as travelers often require reliable transport links before and after their voyage.

What This Means for the Industry

The impending IPO signals a broader trend of growth within the Indian cruise sector, aiming to enhance the overall travel experience. As Waterways Leisure Tourism expands its fleet, the demand for ground transport services like taxis and private transfers is bound to rise, facilitating smooth transitions for passengers embarking on their journeys.

Reviewing the Final Frontier

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In summary, the plan for a ₹727 crore IPO by Waterways Leisure Tourism is a strategic move towards enhancing its fleet and expanding into new territories. This will not only improve offerings on board but will also foster the growth of associated services like transfers. The collaboration with GetTransfer.com supports this theme, ensuring travelers receive the utmost convenience and affordability, while accessing a wide range of vehicles and services tailored to their journeys. For your next trip, consider the reliability and user-friendly experience of GetTransfer.com to make a smart travel decision and enjoy the best offers.