Cordelia Cruises Files for ₹727 Crore IPO – Explained.

Cordelia Cruises, India’s leading ocean cruise operator, is planning to raise ₹727 crore through an Initial Public Offering (IPO). Let’s break it down simply: IPO Details: • Fresh Issue Only – No shares are being sold by existing owners. • Entire ₹727 Cr will go to the company itself (not promoters or investors cashing out). How the Money Will Be Used: • ₹552.5 Cr: To pay lease advance & rentals to its subsidiary (Baycruise Shipping & Leasing) for leasing two cruise ships – Norwegian Sky & Norwegian Sun. - Each ship lease is worth $160 million (~₹1,371 Cr). • The rest will go towards general business expenses. Company Background: • Operated by Waterways Leisure Tourism, based in Mumbai. • Promoters: Global Shipping and Leisure + Rajesh Chandumal Hotwani (holding 99.27% stake). • Market Share: Claimed 65% share (by value) of India’s cruise market in FY24. • Popular Routes: Mumbai, Goa, Kochi, Chennai, Lakshadweep, Vizag, Puducherry. Financial Snapshot: • FY24 Loss: ₹120 Cr (vs Profit of ₹55.3 Cr in FY23). • FY24 Revenue: ₹442.1 Cr (down from ₹481.9 Cr in FY23). • But in 9 months of FY24, it made a profit of ₹139.3 Cr on ₹409.5 Cr revenue — showing recovery signs. IPO Advisors (Merchant Bankers): • Centrum Capital • Intensive Fiscal Services • Motilal Oswal Investment Advisors Why it matters: Cordelia is betting big on India’s growing cruise tourism. If successful, this IPO could help them expand their fleet and strengthen their hold on the domestic cruise market. Bottom Line: Cordelia Cruises is entering the stock market with a ₹727 Cr IPO to fund its ship leases and future growth. Keep an eye if you're tracking tourism or travel sector investments.