Waterways Leisure Tourism files DRHP for Rs 727 crore IPO
Waterways Leisure Tourism has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 727 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of shares with no offer-for-sale component.
Proceeds from the fresh issue to the extent of Rs 552.53 crore will be used for payment towards deposit or advanced lease rental and monthly lease payments for its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) and a portion will be used for general corporate purposes. Centrum Capital, Intensive Fiscal Services and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. The equity shares are proposed to be listed on the NSE and BSE.
Waterways Leisure Tourism currently operate a cruise vessel, the 'MV Empress', under the brand name 'Cordelia Cruises', and since its launch, over 5.49 lakh guests have sailed on its cruise vessel as of December 31, 2024.
