Waterways Leisure Tourism Limited Announces IPO
Waterways Leisure Tourism Limited has announced its plans to go public with an Initial Public Offering (IPO). This IPO is a fresh issue of equity shares, aiming to raise 727.00 crores.
Company Overview
Waterways Leisure Tourism Ltd, operating under the brand Cordelia Cruises, is the only domestic ocean cruise operator in India. Cordelia Cruises offers premium cruise experiences along the Indian coastline, primarily operating from Mumbai and Chennai. As of Fiscal 2024, the company operates a single cruise vessel with a passenger capacity of 2,005 guests.
The company accounted for approximately 65% of the market share in value terms in Fiscal 2024. For the nine months ended December 31, 2024 as well as Fiscal 2024, 2023 and 2022, Waterways Leisure Tourism Limited directly sold 66.12%, 59.96%, 50.50% and 35.33% of the total cabins, respectively.
The cruise experience is designed to immerse guests in India s culture, cuisine, and hospitality. The cruise offers a variety of food options such as pan-Asian, international, and Indian cuisine, including Jain food options. Amenities offered include a children s academy, gaming arcade, spa, salon, retail outlets, casino, fitness center, rock climbing wall, and swimming pools. They also offer specialized arrangements for MICE events and weddings.
Key Achievements
Waterways Leisure Tourism Limited has demonstrated significant growth and established itself as a key player in the Indian cruise market. Some notable achievements include:
- Market leader in the domestic ocean cruise segment.
Financial Overview
Here s a snapshot of Waterways Leisure Tourism Limited s financial performance for the most recent fiscal year:
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 243.78 crores | 327.93 crores | 307.02 crores | 57.80 crores |
| Revenue | 409.45 crores | 442.11 crores | 481.92 crores | 136.18 crores |
| Profit After Tax | 139.25 crores | -119.96 crores | 55.31 crores | -114.98 crores |
| Net Worth | 24.38 crores | -114.77 crores | 5.19 crores | -114.85 crores |
| Reserves and Surplus | -40.30 crores | -179.46 crores | -59.49 crores | -114.86 crores |
| Total Borrowing | 35.24 crores | 24.64 crores | 16.32 crores | 86.27 crores |
Offer for Sale and IPO Structure
The Waterways Leisure Tourism Limited IPO includes a fresh issue of 727.00 crores. The allocation of shares for different investor categories is as follows:
- Retail Investors: 10%
- Qualified Institutional Buyers (QIB): 75%
- Non-Institutional Investors (NII): 15%
The shares of Waterways Leisure Tourism Limited are proposed to be listed on the BSE and NSE.
Lead Managers and Registrar
The lead managers for the Waterways Leisure Tourism Limited IPO are Centrum Capital Limited, Intensive Fiscal Services Private Limited, Motilal Oswal Investment Advisors Limited. MUFG Intime India Private Limited is the registrar for the IPO.
Conclusion
Waterways Leisure Tourism Limited s IPO presents an opportunity to invest in a growing player in the Indian cruise industry. Stay tuned for updates on the IPO date and further details on this exciting investment opportunity.