- By Aditya Pratap Singh
- Thu, 18 Jun 2026 06:50 PM (IST)
- Source:PTI
Waterways Leisure Tourism Rs 585 crore initial public offerings (IPO), the operator of Cordelia Cruises, will open for public subscription on June 23, and the company on Thursday fixed a price band of Rs 769-808 for the same. The initial share sale will close on June 25. Investors can bid for a minimum of 18 equity shares and in multiples of 18 equity shares thereafter, the company informed.
The IPO is a fresh issue of up to Rs 585 crore
The proceeds from the fresh issue to the extent of Rs 480 crore will be for payment towards deposit/advance to lease rental and monthly lease payments of its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited (Baycruise IFSC), while the balance proceeds will be utilised for general corporate purposes, the company said.
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The company's revenue from operations was Rs 580 crore during FY26 as against Rs 444 crore during FY24. Its net profit was Rs 52 crore during FY26 as against a loss of Rs 123 crores during FY24. The company offers international itineraries to Hambantota, Trincomalee, and Jaffna (Sri Lanka), Phuket (Thailand), Singapore, Kuala Lumpur, and Langkawi (Malaysia).
Its itineraries are designed to showcase India's coastal regions and cultural heritage. In FY25, the company accounted for approximately 79 per cent of the market share in value terms, as per the Crisil report. Its cruise vessel primarily sails to domestic destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry.
Disclaimer: This story has been published from the agency feed (PTI), with some changes to the intro and headlines.