Cordelia Cruises has filed for Initial Public Offering (IPO) in India, which aims to raise the equivalent of roughly $85 million in Indian rupees.
According to financial sources, the cruise line’s parent company, Waterways Leisure Tourism Limited, filed its Draft Red Herring Prospectus (DRHP) on June 13, 2025.
The IPO will comprise a 100 percent fresh equity issue, with no offer-for-sale (OFS) component included.
The Waterways Leisure Tourism Limited prospectus shows that the company plans to list its shares on both of India’s major stock exchanges, including BSE and NSE.
The proceeds are said to be used predominantly to meet lease-related obligations, with roughly $65 million allocated to pay for the acquisition of vessels on lease, and the remaining funds going to general corporate purposes.
Cordelia is planning to expand its fleet with the acquisition of two ships from Norwegian Cruise Line: the Norwegian Sky and the Norwegian Sun.
The vessels are set to join the Empress in offering domestic cruising from ports in India, as well as longer itineraries to Southeast Asia.
After being handed over to the company a few weeks earlier, the Cordelia Sky is set to make its debut in Mumbai on September 28, 2026.
The Cordelia Sun follows suit one year later, with its maiden cruise for the India-based brand scheduled for November 1, 2027.
After acquiring the former Empress of the Seas, Cordelia Cruises launched service in Mumbai in September 2021.
Originally built for Royal Caribbean International, the ship offers a series of short cruises from Mumbai, Goa and Kochi, as well as other ports in India.
