Cordelia Cruises, operated by Waterways Leisure Tourism, has announced plans to raise INR 800 crore through an Initial Public Offering (IPO) to fund its growth strategy. The company’s board has approved this move, aiming to issue equity to institutional and eligible investors in the Indian capital market. This capital infusion will support Cordelia’s expansion efforts, particularly in fleet enhancement and operational development.
As part of its growth plans, Cordelia Cruises intends to add two new cruise ships, increasing its total guest capacity by approximately 4,000. The company is currently in discussions with major cruise operators in the US and Europe, which are looking to sell their smaller ships with capacities ranging from 2,000 to 2,500 passengers. These operators are transitioning to larger vessels accommodating 5,000 to 7,000 guests, presenting an opportunity for Cordelia to acquire well-maintained ships at competitive prices.
According to Cordelia’s President and CEO, Jurgen Bailom, multiple offers have been received from cruise companies upgrading their fleets. He emphasised that current market conditions are favorable for expansion, and acquiring additional ships will strengthen Cordelia’s position as a leader in India’s cruise tourism sector. The move is expected to enhance the company’s service offerings while catering to the increasing demand for leisure cruises in the region.
With the upcoming IPO and fleet expansion, Cordelia Cruises aims to redefine India’s cruise industry, bringing global standards and an enhanced travel experience to Indian passengers. The company’s strategic investments in new vessels and market positioning are expected to drive significant growth, solidifying its reputation as a premier cruise line in the country.