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Photo Credit: Onboard a ship operated by Cordelia Cruises Cordelia Cruises
Cordelia Cruises started sailing in September 2021, and unlike other cruise lines, it is not content to wait decades to list publicly.
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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Tags: india , indian hotels company , indigo , IPOs , skift exclusive , skift india report
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The article covers several major developments in India's travel sector, including Cordelia Cruises' plans for an $84.5 million IPO to fund fleet expansion and meet rising cruise demand, IndiGo’s launch of new Delhi-London Heathrow flights amid operational and regulatory challenges, and IHCL’s entry into Egypt with a Taj-branded hotel as part of its global growth strategy. Additionally, Noida International Airport has partnered with Tech Mahindra to enhance its digital security ahead of launch, and Indonesia’s Bintan Resorts is experiencing significant growth in Indian tourist arrivals, particularly for experiential travel.
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