Cordelia Cruises Charts New Course with Rs 800 Crore IPO and Fleet Expansion

Cordelia Cruises plans to raise Rs 800 crore through an IPO to fund expansion, aiming to add two new cruise ships and grow guest capacity by 4,000. Discussions are ongoing with US and European cruise companies to acquire smaller ships, positioning the company for significant industry growth.

Waterways Leisure Tourism, operating under the brand Cordelia Cruises, announced intentions to raise Rs 800 crore through an Initial Public Offering (IPO) on Friday. The move aims to fuel growth plans, as the company looks to strengthen its position in the Indian cruising market.

According to a company statement, the board has resolved to issue equity in the Indian capital market to institutional and eligible investors, seeking to secure the hefty sum. The funds will support the purchase of two additional cruise ships, potentially increasing guest capacity by 4,000.

In light of favorable market conditions, Cordelia Cruises President and CEO Jurgen Bailom emphasized that discussions are ongoing with major cruise operators in the US and Europe, who intend to sell off smaller vessels in favor of larger ships. Bailom stated the company is poised for an era of unparalleled growth, marking a significant moment for India's cruise industry.

(With inputs from agencies.)