Cordelia Cruises plans for ₹800 crore IPO

Cordelia Cruises, operating under Waterways Leisure Tourism, is set to raise ₹800 crore through an Initial Public Offering (IPO) to support its growth initiatives. The company's board has decided to secure funding via an IPO, which involves issuing equity to institutional investors and other eligible participants within the Indian capital market. This strategic move aims to fuel the company's expansion and capitalize on emerging opportunities in the cruise industry.

Fleet Expansion

A significant portion of the capital raised through the IPO will be allocated to expanding Cordelia Cruises' fleet. The company plans to introduce two new cruise ships, which are expected to collectively increase guest capacity by approximately 4,000. This expansion will enable Cordelia Cruises to accommodate more passengers and offer a wider range of cruise experiences.

Acquisition Strategy

In addition to acquiring new vessels, Cordelia Cruises is actively exploring opportunities to acquire existing ships from major cruise companies in the US and Europe. According to the company's President and CEO, Jurgen Bailom, these companies are reportedly looking to divest ownership of their smaller ships, which typically have passenger capacities ranging from 2,000 to 2,500 guests, as they transition to newer, larger vessels capable of accommodating 5,000 to 7,000 guests. Cordelia Cruises has already received multiple offers from cruise lines seeking to upgrade their fleets, indicating a favourable market environment for acquisitions.

Strategic Outlook

According to Jurgen Bailom, President and CEO of Cordelia Cruises, the prevailing market conditions present an opportune moment for the company to expand its fleet and solidify its position in the Indian cruise industry. By leveraging the upcoming IPO and strategically expanding its fleet, Cordelia Cruises aims to spearhead a new era of growth and achieve global recognition. The company's strategic focus on fleet expansion and enhanced service offerings reflects its commitment to meeting the evolving needs of cruise passengers and driving sustainable growth in the Indian market.