Cordelia Cruises (India) Expands Its Fleet and Sets Sails for an Upcoming IPO
The board of Waterways Leisure Tourism Ltd has recently met in Mumbai to strategize the expansion of Cordelia Cruises (India). This includes plans to add two new vessels to their existing fleet and preparations for an Initial Public Offering (IPO).
Currently, Cordelia Empress, their only vessel, is operating near full capacity. The acquisition of two additional ships is anticipated to elevate passenger capacity by approximately 4,000 guests, surpassing the current limit of 2,000. The expansion plans include the addition of 1,800 to 2,200 new staterooms, which will enhance the existing 800.
To support this growth, the board has decided to raise around INR 800 crores (approximately US$92.3 million) through the IPO, pending regulatory approvals. The management team has been empowered to initiate the necessary processes for these approvals.
Vice Admiral Anil Chopra has joined the board, which already consists of Jurgen Bailom, Aditya Gupta, and Coralie Ansari. There are plans to further strengthen the team by incorporating experts from the tourism and entertainment sectors.
Jurgen Bailom, President & CEO of Cordelia Cruises, indicated that negotiations are ongoing with major cruise operators in the USA and Europe concerning the acquisition of vessels with passenger capacities ranging from 2,000 to 2,500. Many of these operations are transitioning to larger vessels accommodating 5,000 to 7,000 guests. Bailom reported that several offers from cruise lines looking to divest their smaller ships have been received, and the current market conditions are seen as favorable for expansion.
With the impending IPO and planned fleet growth, Cordelia is expected to enhance its presence in India’s cruise sector. The Government of India, under Prime Minister Narendra Modi’s leadership, has identified cruise tourism as a priority sector, foreseeing it as a significant contributor to domestic and international tourism and job creation.
Set sail on a voyage of discovery with CruiseShip.net – your ultimate destination for all things cruising! Explore the latest news, insightful reviews, and thrilling cruising adventures from around the globe. Whether you’re a seasoned cruiser or a first-time traveler, CruiseShip.net is your go-to source for expert advice, insider tips, and inspiring stories to fuel your wanderlust. Embark on a journey like no other with CruiseShip.net – where every wave brings new excitement and endless possibilities on the high seas.
Leave a Reply