Waterways Leisure Tourism, which operates Cordelia Cruises, has set a price band of ₹769-808 per equity share for its initial public offering (IPO).

The share-sale consists of fresh issuance of upto 7.2 million shares for an issue size of ₹585 crore. 

The company plans to utilise ₹480 crore from the sale proceeds towards advance deposits of lease rent and monthly lease payments of two vessels that are due to enter service this year and the next year. The balance amount will be used for general corporate purposes.

The IPO will open on June 23 and close on June 25. Investors can bid for minimum of 18 equity shares and in multiples of 18 equity shares thereafter.

Currently, Cordelia Cruises operates a single vessel MV Empress and has carried over seven lakh passengers since its entry into service in September 2021. The two new vessels — Norwegian Sky and Norwegian Sun — will help it target a wider customer base and grow its share of business from the corporates and wedding segments.

FY26 performance

In FY26, the company registered revenue from operations of ₹580 crore as against ₹590 crore in the previous year. Revenue remained flat due to the impact of Operation Sindoor and IndiGo flight disruption. Net profit in FY26 declined to ₹52 crore (₹168 crore) due to higher operating expenses on account of planned expansion.

Published on June 18, 2026