Waterways Leisure Tourism IPO Overview
Waterways Leisure Tourism IPO is a fully book-built issue with a total size of ₹727.00 crores. The entire offering is a fresh issue, intended to fund the expansion of Cordelia Cruises, India’s premium cruise brand.
The Waterways Leisure Tourism IPO dates are yet to be officially announced. The allotment is expected to be finalized by [To Be Announced], and the listing is planned on BSE and NSE with a tentative listing date of [To Be Announced].
As of now, the Waterways Leisure Tourism IPO price band has not been disclosed. Investors are advised to stay updated as the issue is expected to attract high demand given the company’s strong market position in luxury travel.
The registrar for this IPO is Mufg Intime India Private Limited, and lead managers are Centrum Capital Limited, Intensive Fiscal Services Private Limited, and Motilal Oswal Investment Advisors Limited.
With a strong vision to revolutionize cruise tourism in India, the Waterways Leisure Tourism IPO is poised to be one of the most anticipated public issues in 2025. For updates on upcoming IPOs, visit our Upcoming IPO section or read about the Kalpataru Limited IPO.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹727.00 Crores |
| Fresh Issue | ₹727.00 Crores |
| Issue Type | Fresh Issue |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 75% |
| Retail | 10% |
| NII/HNI | 15% |
About Waterways Leisure Tourism Limited Company
Waterways Leisure Tourism Ltd, incorporated in 2020, is the only domestic ocean cruise operator in India as of December 31, 2024, offering premium cruise experiences through its brand, Cordelia Cruises. Cordelia Cruises provides luxurious, inherently Indian 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.
Waterways Leisure Tourism Limited Financial Details
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 243.78 | 327.93 | 307.02 | 57.80 |
| Revenue | 409.45 | 442.11 | 481.92 | 136.18 |
| Profit After Tax | 139.25 | -119.96 | 55.31 | -114.98 |
| Net Worth | 24.38 | -114.77 | 5.19 | -114.85 |
| Reserves and Surplus | -40.30 | -179.46 | -59.49 | -114.86 |
| Total Borrowing | 35.24 | 24.64 | 16.32 | 86.27 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| (18.55) | 218.94% | (17.74) |
Offer Objectives
The document details the offer objects for the company's upcoming IPO. A significant portion focuses on the lock-in periods for equity shares.
Promoters' Contribution: As per SEBI regulations, a minimum of 20% of the post-issue equity share capital held by promoters will be locked in for 18 months from the date of allotment. Promoter shareholding exceeding 20% is locked in for 6 months. Currently, promoters hold 64,681,980 equity shares, representing 99.27% of the issued capital.
Other Lock-ins: The entire pre-issue equity share capital (excluding the promoter's locked-in shares) will be locked in for 6 months, with exceptions for VCFs, Category I & II AIFs, and FVCIs, subject to certain conditions. Anchor investors will have a lock-in of 90 days on 50% of their allotted shares and 30 days on the remaining 50%.
Issue Objectives: The company plans to utilize approximately ₹ 5,525.29 million (₹ 552.53 crore) from the net proceeds towards deposit/ advanced lease rental and monthly lease payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited, for acquisition of vessels. The amount to be utilized for general corporate purposes shall not exceed 25% of the Gross Proceeds.
Major Shareholders: Global Shipping and Leisure Limited holds 64,681,880 equity shares, representing 99.27% of the pre-issue equity share capital.
Company Details
Address:
A-1601, Marathon Futurex, NM Joshi Marg, Lower Parel, Delisle Road, Mumbai 400 013, Maharashtra, India
Phone: +91 022 7154 1821, +91 022 6554 5410
Email: [email protected]
Website: http://www.cordeliacruises.com
IPO Registrar Details
MUFG Intime India Private Limited
Phone: +91 81081 14949
Email: [email protected]
Website: http://[email protected]
Offer Prospectus & Documents
Lead Managers
- Centrum Capital Limited
- Intensive Fiscal Services Private Limited
- Motilal Oswal Investment Advisors Limited
