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Indian Cruise Line Cordelia Cruises to IPO in January: Exclusive
India-based Waterways Leisure Tourism, the operator of Cordelia Cruises, will open its initial public offering (IPO) in January, CEO Jurgen Bailom told Skift. The company had filed draft papers with Indian markets regulator Securities and Exchange Board of India (Sebi) this June.
As per the Draft Red Herring Prospectus (DRHP), the company is looking to raise up to INR 7.27 billion ($84.5 million), with plans to use INR 5.5 billion ($64 million) to fund lease rentals for cruise vessels through its step-down subsidiary, Baycruise Shipping and Leasing (IFSC).
Sebi approved Cordelia’s IPO plans in October. “We have all the approvals. This year was exceptional for IPOs, and everybody was running for listing dates. We’re not really in a rush,” Bailom told Skift.
Cordelia’s IPO Expectations: As per Bailom, the timing is “just perfect” with the growth of India and what is going to come for the industry in the country over the next fe
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