Cordelia Cruises Expands Fleet and Gears Up for IPO: What You Need to Know

The board of Waterways Leisure Tourism Ltd., better known as Cordelia Cruises, recently convened in Mumbai to plan exciting changes for the company. India’s leading cruise operator aims to expand its fleet by acquiring two additional vessels and is gearing up for an Initial Public Offering (IPO).

Currently, Cordelia Cruises operates the Cordelia Empress, which is running near full capacity with about 2,000 guests. The new vessels will significantly increase their capacity, enabling them to accommodate an additional 4,000 passengers by adding between 1,800 to 2,200 staterooms and suites to their existing 800 accommodations.

To finance this ambitious expansion, the board has decided to raise approximately Rs. 800 crores (about US$92.3 million) through the IPO in the Indian capital market, pending required regulatory approvals. The management is set to begin the process of securing these approvals from the relevant authorities.

In a significant move, Vice Admiral Anil Chopra has joined the Cordelia board, which already includes Jurgen Bailom, Aditya Gupta, and Coralie Ansari. The company plans to further bolster its leadership by bringing in experts from the tourism and entertainment sectors.

Jurgen Bailom, President and CEO of Cordelia Cruises, shared that conversations are ongoing with major cruise operators in the U.S. and Europe regarding potential acquisitions of vessels with passenger capacities between 2,000 and 2,500. Many of these operators are currently transitioning to larger ships that accommodate between 5,000 and 7,000 guests, making the market ripe for Cordelia’s expansion.

With the impending IPO and a growing fleet, Cordelia Cruises is set to fortify its position in India’s booming cruise industry. The Government of India, under Prime Minister Narendra Modi, has prioritized cruise tourism, viewing it as a sector that can generate significant contributions to both domestic and international tourism, as well as create jobs.

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