Waterways Leisure Tourism's ₹727 Crore IPO to Enhance Cordelia Cruises

Waterways Leisure Tourism: An Overview

Waterways Leisure Tourism, operator of the renowned Cordelia Cruises, is set to raise a staggering ₹727 crore through its Initial Public Offering (IPO), as officially filed in a Draft Red Herring Prospectus with SEBI. The funds raised will primarily support lease payments for cruise vessels, bolstering the company’s ambitious expansion plans.

Market Position and Expansion Plans

Currently, Waterways Leisure enjoys a remarkable 65 percent market share in value terms within India’s domestic cruise market, as per a report by CRISIL. This commanding position is complemented by plans to expand both fleet capacity and itineraries, with particular emphasis on catering to a wider audience.

The excitement surrounding the IPO is palpable, as it signifies an entirely fresh offer with no component of an offer-for-sale. To enhance operational capabilities, Waterways plans to allocate the majority of proceeds—approximately ₹552.53 crore—to meet lease-related obligations. The remaining funds will facilitate general corporate exigencies, paving the way for expanded services.

Operational Highlights and Fleet Expansion

Waterways Leisure’s flagship, the MV Empress, has successfully served over 549,000 guests while covering over 225,000 nautical miles. The vessel houses 796 cabins of varying categories, with nightly fares that range from ₹25,230 for interior rooms to ₹1.15 lakh for the Chairman Suite.

In a bid to elevate the cruising experience, the company has outlined plans for fleet augmentation by introducing two new vessels: the Norwegian Sky and the Norwegian Sun, boasting capacities of 2,004 and 1,936 guests, respectively. The operational routes span popular domestic locations such as Goa, Kochi, Chennai, Lakshadweepen Visakhapatnam. Internationally, the destinations encompass Sri Lanka, Thailand, Singaporeen Malaysia.

Onboard Experiences and Unique Offerings

Cruising on the MV Empress offers an amalgamation of experiences: from diverse food and beverage offerings to live shows inspired by Indian cinema. Families can find entertainment in dedicated children’s zones, while couples may indulge in the onboard spa or try their luck at the casino. The cruise line also caters to special events, including weddings and MICE gatherings.

Financial Performance

Last fiscal year, Waterways Leisure reported a revenue of ₹442.11 crore for FY24, alongside a profit after tax amounting to ₹139.25 crore for the nine months ending December 2024. This level of financial health positions the company favorably for the continued enhancement of its service offerings.

Investment Structure and Market Strategy

The IPO will undergo a book-building process, allocating 75 percent of shares to qualified institutional buyers, while the remaining shares will cater to non-institutional and retail investors. Leading the charge in this offering are Centrum Capital, Intensive Fiscal Servicesen Motilal Oswal, serving as the lead book-running managers for the IPO. Furthermore, the shares are expected to be listed on both the NSE and BSE.

Implications for the Travel and Tourism Sector

The increase in cruising options is a game changer for the tourism landscape, fostering interest in domestic tourism and supporting overall growth in travel-related services—including private taxis and transfers. A growing number of cruise visitors may result in heightened demand for personalized travel solutions, which platforms such as LocalsRide.nl effectively satisfy by allowing users to book tailored transfers. Users can see the specific vehicle details, make informed choices, and relish unmatched transparency in the booking process.

Your Next Adventure Awaits

In light of these exciting developments, cruise tourism stands poised to grow, attracting more travelers looking to explore new destinations. Even the most compelling reviews can scarcely match the enriching experience of journeying firsthand. With LocalsRide.com, travelers can secure verified car and driver options at competitive prices, eliminating the guesswork and fostering a seamless transfer experience. Consider how effortless your travel could be: affordable, convenient, and with an extensive choice of vehicles tailored to your needs. So, why wait? Boek je rit with LocalsRide.nl now!