Waterways Leisure Tourism Sets Sail for Rs 727 Crore IPO

Waterways Leisure Tourism is making waves in the market by filing preliminary papers with the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO) worth Rs 727 crore.

The IPO comprises entirely of fresh shares with no offer-for-sale component, as detailed in the Draft Red Herring Prospectus. A significant portion of the funds raised, Rs 552.53 crore, will be allocated for lease-related payments for its subsidiary, Baycruise Shipping and Leasing, while some will support general corporate uses.

Operating under the brand 'Cordelia Cruises,' Waterways Leisure Tourism plans to expand its fleet by introducing 'Norwegian Sky' and 'Norwegian Sun.' The new vessels aim to further conquer both domestic and international waters. Centrum Capital, Intensive Fiscal Services, and Motilal Oswal Investment Advisors are steering the IPO, with shares to be listed on NSE and BSE.

(With inputs from agencies.)