February 14, 2025 | Press Release

In a significant development for India’s cruise industry, Cordelia Cruises, operated by Waterways Leisure Tourism Ltd., has announced plans to launch an ₹800 crore Initial Public Offering (IPO) to fuel its ambitious expansion strategy. The move aligns with global industry trends, as leading international cruise lines are publicly traded, leveraging investor confidence to drive growth and innovation.

With its sole ship, Cordelia Empress, operating at near-full capacity, the company has decided to add two more cruise ships to its fleet, increasing guest capacity from 2,000 to nearly 6,000. The expansion will also see an addition of 1,800-2,200 staterooms and suites, complementing the existing 800 staterooms, further strengthening Cordelia’s offerings in the Indian cruise market.

To fund this expansion, the board of Cordelia Cruises has decided to raise capital through appropriate financing methods, including an IPO, subject to regulatory approvals. The funds raised will not only support fleet growth but also contribute to infrastructure improvements and operational enhancements.

“We are in discussions with major cruise companies from the US & Europe, who are looking to divest ownership of their smaller ships with passenger capacities ranging between 2,000 to 2,500 guests per ship, as they transition to newer vessels with capacities of 5,000-7,000 guests,” said Jurgen Bailom, President & CEO of Cordelia Cruises. When asked if Cordelia has already closed a deal for ship acquisitions, Bailom added, “We have multiple offers from existing cruise lines as they upgrade their fleets with larger ships. Given the current market dynamics, it is an opportune time for us to expand our fleet.”

The company’s board also welcomed Vice Admiral Anil Chopra as a new member, joining the existing leadership team of Jurgen Bailom, Aditya Gupta, and Coralie Ansari. The board is expected to expand further, bringing in experts from the tourism and entertainment industries to guide the next phase of growth.

This expansion and IPO announcement mark a pivotal moment for India’s cruise tourism industry. Under the Government of India’s push to prioritize cruise tourism, Cordelia Cruises’ strategic growth is expected to not only boost domestic and international tourism but also create significant employment opportunities in the sector.

As Cordelia Cruises embarks on this transformative journey, all eyes will be on how India’s cruise industry evolves in the coming years.