BSE List Price : ₹690.00

NSE List Price : ₹681.00

subscription

Category	Times
QIBs	1.06x
HNIs	1.23x
Retail	4.4x
Total : 1.72x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	18	₹14,544
Retail Maximum	13	234	₹189,072
S-HNI Minimum	14	252	₹203,616
S-HNI Maximum	68	1,224	₹988,992
B-HNI Minimum	69	1,242	₹1,003,536

About the Company

As of December 31, 2024, Waterways Leisure Tourism Limited, operating under the brand Cordelia Cruises, is the only Indian company engaged in ocean cruise operations. The company offers premium cruise vacations infused with Indian hospitality and cultural experiences, helping it establish a strong brand presence and customer loyalty while maintaining competitive pricing.

Currently, Cordelia Cruises operates a single vessel, the MV Empress, featuring 796 cabins across various categories, including suites, mini suites, ocean-view cabins, and interior cabins. Since its launch, the ship has welcomed approximately 5,49,051 passengers. As of December 31, 2024, the vessel had covered 2,25,079 nautical miles, connecting major domestic destinations such as Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry, along with international ports including Hambantota, Trincomalee, and Jaffna in Sri Lanka. Through its carefully curated itineraries and premium onboard services, Cordelia Cruises has become a popular choice for travelers seeking a luxurious and memorable cruising experience.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹452.15	₹560.40	₹-122.73	₹399.20
2025	₹597.68	₹483.70	₹168.19	₹247.37
2026	₹586.99	₹508.74	₹52.14	₹341.78

Company Promoter

Global Shipping

Leisure Limited

Rajesh Chandumal Hotwani

Know before investing

• • Strengths

  Strong Growth Potential in Cruise Tourism: India’s extensive coastline provides significant opportunities for the expansion of domestic and international cruise services, supporting the long-term growth of the cruise tourism industry.

  Supportive Government Initiatives: The industry benefits from various government measures, including the development of cruise infrastructure, regulatory reforms, and policy support, which contribute to the advancement of cruise tourism in the country.

• • Risks

  Low Consumer Awareness Risk: Cruise holidays are still a relatively niche travel segment in India, and limited awareness among potential customers may restrict market expansion and demand growth.

  Regulatory and Taxation Challenges: Modifications in regulatory requirements and the prevailing tax framework, including GST-related issues, could adversely affect the growth prospects and profitability of the cruise industry.

Objects of the Issue & Utilisation of proceeds

Payment towards deposit/ advanced lease rental and monthly lease payments to our stepdown subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited (“Baycruise IFSC”).

General Corporate Purpose

Company  Address

Waterways Leisure Tourism Ltd.
A-1601, Marathon Futurex,
NM Joshi Marg,
Lower Parel, Delisle Road,
Mumbai, Maharashtra, 400013
Phone: +9102271541821
Email: cs@waterways-leisure.com
Website: http://www.cordeliacruises.com/

IPO Registrar

MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: waterwaysleisure.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

IPO Review

Avoid