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Cordelia Cruise’s Rs.585-Cr IPO subscribed 1.46x

Business Standard   Waterways Leisure Tourism  

The initial public offering (IPO) of Mumbai-headquartered Waterways Leisure Tourism , the operator of Cordelia Cruises, concluded on Thursday with an overall subscription of 1.46 times. The INR 585 crore public issue saw significant participation from retail investors, whose portion was subscribed 4.19 times, while the non-institutional investor quota was booked 1.17 times. The portion reserved for qualified institutional buyers reached a 69 percent subscription level.Founded in 2020, Waterways operates under the brand Cordelia Cruises, which offers luxury cruise experiences across Indian and international destinations.Of the funds raised, INR 552.53 crore will be used to make lease-related payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd.