Waterways Leisure Tourism Limited, the only domestic ocean cruise operator in India, plans to raise ₹585 crores through an IPO.
[Fresh Issue ₹585 Cr + OFS NIL]
Waterways leisure tourism IPO price: ₹769–₹808 per share.
Waterways Leisure Tourism: History
The Company was originally incorporated as Waterways Leisure Tourism Private Limited, a private limited company under the Companies Act, 2013, on November 2, 2020.
The Company was then converted into a public limited company on February 25, 2025, under a special resolution passed by the shareholders.
Its name was subsequently changed to Waterways Leisure Tourism Limited, and a fresh certificate of incorporation was issued by the Registrar of Companies on March 12, 2025.
Waterways Leisure Tourism: Business
Waterways Leisure Tourism Ltd is an ocean cruise operator in India, offering luxurious and authentic Indian experiences.
The Company currently operates a cruise vessel, the MV Empress, and since its launch, 5,49,051 guests have sailed on it (as of December 31, 2024).
The Company’s cruise vessel primarily sails to domestic destinations such as –
- Chennai (Tamil Nadu),
- Goa,
- Kochi (Kerala),
- Lakshadweep,
- Mumbai (Maharashtra),
- Visakhapatnam (Andhra Pradesh), and
- Puducherry.
It also offers international itineraries, including Hambantota, Trincomalee, and Jaffna (Sri Lanka), and has also sold cruise tickets to destinations such as Kuala Lumpur, Langkawi (Malaysia), Phuket (Thailand), and Singapore.
A majority of bookings are generated directly through its call centers, mobile application, website, and customer service channels.
Services Offer
The Company offers a diverse culinary experience, providing a variety of food options such as pan-Asian, international, and Indian cuisine, including Jain food options.
It also organizes live performances and themed shows inspired by Indian Cinema, such as Indian Cinemagic, Balle Balle, Burlesque–Bollywood Way, Razzmatazz, and Romance in Bollywood.
It offers a wide range of amenities for all age groups, including a children’s academy, gaming arcade, spa and salon, retail outlets, casino, fitness center, a rock climbing wall, and swimming pools.
It also offers specialized arrangements for Meetings, Incentives, Conferences, and Exhibitions (MICE) events and weddings, with comprehensive services that include venue arrangements, catering, entertainment, and accommodation.
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Market Share
According to the CRISIL report, Waterways_Leisure_Tourism commands approximately 79% market share of India’s overnight ocean and coastal cruise industry by value (as of FY26).
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Strategies Ahead
Introduce new cruise vessels to meet growing demand.
Broaden itineraries to cover domestic and international destinations.
CHECK: GST collections May 2026
Company Promoters
- Global Shipping and Leisure Limited
- Rajesh Chandumal Hotwani.
Refer to Waterways Leisure Tourism DRHP for more details.
IPO Details
ipo date: 23 June – 25 June 2026
Minimum Amount: ₹14,544
Minimum Bid: 18 Shares
Face Value: INR 10 per share
Listing On: NSE, BSE
Financial
Book Running Lead Managers
Centrum Capital
Intensive Fiscal Services
Motilal Oswal Investment Advisors
CONCLUSION
Considering the nature of the business, financial performance, and the above-listed factors in mind, FinBlab recommends ‘MAY SUBSCRIBE‘ ratings on Waterways Leisure Tourism IPO.
Do come back to know more about upcoming IPOs.
Waterways Leisure Tourism IPO FAQ’s
1) What is the Waterways_Leisure_Tourism_Limited website?
www.cordeliacruises.com
2) What is the Waterways_leisure_tourism contact number?
A-1601, Marathon Futurex, NM Joshi Marg, Lower Parel, Delisle Road, Mumbai, Maharashtra, 400013. +91 022 71541821.
Disclaimer: This article is purely for informational purposes. While much time and effort is made to provide the information, I (Vishal Dalwadi) or (FinBlab) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.