Latest news with #WaterwaysLeisureTourism
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Business Standard
4 hours ago
- Business
- Business Standard
Cordelia Cruise owner files DRHP, Biocon launches ₹4,500-crore QIP, more
Waterways Leisure Tourism, which operates Cordelia Cruises, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO). The proposed ₹727-crore IPO will be a fresh issue entirely. The IPO proceeds will be used for payment of deposit/advanced lease rental and monthly lease payments to its step-down subsidiary, Baycruise Shipping. Waterways Leisure Tourism currently operates a cruise vessel, the MV Empress, under the brand name Cordelia Cruises, and since its launch, 549,051 guests have sailed on its cruise vessel, which has covered more than 2,25,079.53 nautical miles along the Indian coastline and surrounding islands as of December 31, 2024. The firm's cruise vessel primarily sails to domestic destinations, including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry. It also offers international itineraries, including Hambantota, Trincomalee and Jaffna. Centrum Capital, Intensive Fiscal Services and Motilal Oswal Investment Advisors are the book-running lead managers. Biocon launches ₹4,500-cr QIP Biocon has launched a qualified institutions placement (QIP) to raise ₹4,500 crore. The biopharmaceutical firm will issue up to 139 million new shares — 11.6 per cent of the current outstanding equity base. The floor price for the QIP has been set at ₹323.2. Shares of Biocon last closed at ₹357.3, valuing the firm at ₹42,900 crore. The issuance price will be finalised on Thursday, while trading in the new shares will commence from Tuesday. Biocon will use the QIP proceeds to purchase outstanding optionally convertible debentures issued by subsidiary Biocon Biologics. It will also use the proceeds to repay outstanding debt and for general corporate purposes. BofA Securities, Kotak Mahindra and Goldman Sachs are the investment bankers handling the share sale. IFC commits $60 mn to Motilal Oswal Alternates The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement to invest $60 million in Motilal Oswal Alternates' India Business Excellence Fund V G (IBEF VG), with an additional $60 million co-investment envelope. The fund, targeting $750 million (with a $150 million green-shoe option), will support 12–16 mid-market companies in consumer, financial services, life sciences and manufacturing sectors, focusing on expansion, job creation and technology adoption, particularly in India's Tier-II and Tier-III cities. Managed by MO Alternates, the private investment arm of Motilal Oswal Financial Services Ltd, IBEF VG aims to bridge the funding gap for small and medium enterprises (SMEs) in underserved regions. IFC will also support the fund in enhancing women's workforce participation through workshops and standards. NSE IX inks MoU with Cyprus Stock Exchange The NSE International Exchange (NSE IX), based in GIFT City, has signed a Memorandum of Understanding (MoU) with the Cyprus Stock Exchange (CSE). The agreement was formalised during a roundtable event held in Limassol, Cyprus, during the official visit of India's Prime Minister Narendra Modi and attended by President of the Republic of Cyprus, Nikos Christodoulides. The MoU establishes a framework for multifaceted collaboration between NSE IX and CSE, focusing on cross and dual listings of financial instruments, joint development of innovative financial products, knowledge and research collaboration, capacity-building initiatives and fintech engagement programmes. PM Modi said: 'I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat's GIFT City.' RIL sells another 0.89% stake in Asian Paints Siddhant Commercials, a subsidiary of Reliance Industries (RIL) on Monday, sold another 0.89 per cent stake in Asian Paints via block deals. The RIL entity sold 8.5 million shares at Rs 2,207 apiece to ICICI Prudential Mutual Fund for Rs 1,876 crore. Last week, it had sold 35 million shares (3.6 per cent equity) at Rs 2,201 apiece to SBI Mutual Fund for Rs 7,704 crore. At the end of March 2025 quarter, Siddhant held 4.9 per cent stake (47 million shares) of the paints major. AlphaGrep Securities gets in-principle approval for MF foray AlphaGrep Securities, a quantitative investment firm specialising in systematic strategies, has received in-principle approval from the Securities and Exchange Board of India (Sebi) to foray into mutual funds (MFs). AlphaGrep Investment Management (AGIM), the asset management vertical of the financial services firm, will house the proposed MF business. AGIM has an AUM of over Rs 2000 crore and 500+ clients across two CAT III AIFs (long-short), Long Only PMS and GIFT City-domiciled outbound CAT III AIF, the company said.
Mint
7 hours ago
- Business
- Mint
Waterways Leisure Tourism IPO: Cordelia Cruises operator files DRHP to raise ₹727 crore via public offer
Upcoming IPO: Waterways Leisure Tourism, which operates Cordelia Cruises, has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the stock market regulator Securities and Exchange Board of India (SEBI). The Mumbai-based cruise operator, Waterways Leisure Tourism, is the only domestic ocean cruise operator in India as of December 31, 2024, as per a CRISIL Report. It operates the only domestic cruise line, Cordelia Cruises, mainly from Mumbai and Chennai. The company offers luxurious and inherently Indian experiences. Waterways Leisure Tourism intends to raise ₹ 727 crore via the initial share sale. Waterways Leisure Tourism IPO is entirely a fresh issue of shares of face value of ₹ 10. The offering by Waterways Leisure Tourism does not have any offer-for-sale component. This means all the funds raised from the share sale will be received by the company. Waterways Leisure Tourism plans to utilise the proceeds from the fresh issue to the extent of ₹ 552.53 crores for payment towards deposit and advanced lease rental and monthly lease payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited ('Baycruise IFSC'). The rest of the amount from the planned raising of ₹ 727 crore will be utilised for general corporate purposes by Waterways Leisure Tourism. As per the DRHP filed by Waterways Leisure Tourism Limited, the registrar for its initial public offering, or IPO, is MUFG Intime India Private Limited, which formerly was also known as Link Intime India Private Limited. The book-running lead managers for IPO include Centrum Capital Limited, Intensive Fiscal Services Private Limited, and Motilal Oswal Investment Advisors Limited.
Economic Times
8 hours ago
- Business
- Economic Times
Cordelia Cruises operator Waterways Leisure files DRHP to raise Rs 727 crore via IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Waterways Leisure Tourism, the operator of India's only domestic ocean cruise brand Cordelia Cruises , has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to raise Rs 727 crore through an initial public offering (IPO). The Mumbai-based company plans to issue entirely fresh shares, with no offer-for-sale to the DRHP, the company plans to utilize Rs 552.53 crore from the IPO proceeds to make lease-related payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining funds will be used for general corporate IPO is being launched through the book-building route, with at least 75% of the issue reserved for qualified institutional buyers (QIBs), and the remaining 15% and 10% allocated to non-institutional investors and retail investors, Leisure operates the MV Empress—India's only premium cruise liner under the Cordelia brand. Since its launch, the ship has hosted over 5.49 lakh guests and covered more than 2.25 lakh nautical miles along Indian coasts and international destinations. It offers 796 cabins, with pricing ranging from Rs 25,230 per night for interior rooms to Rs 1.15 lakh per night for the luxurious Chairman's Suite, depending on demand and seasonal FY24, Cordelia Cruises held a 65% market share in value terms within India's ocean cruise sector, according to a CRISIL report. Its itineraries span major Indian ports such as Mumbai, Goa, Kochi, Chennai, Visakhapatnam, and Lakshadweep, along with international routes to Sri Lanka, Malaysia, Singapore, and expand its fleet and capacity, the company plans to induct two new cruise ships — Norwegian Sky and Norwegian Sun — with guest capacities of 2,004 and 1,936, Cruises is known for blending luxury with Indian cultural themes. It offers a range of experiences, including diverse cuisine, live Bollywood-inspired performances, and amenities such as gaming zones, pools, rock climbing walls, spas, and a casino. The cruise line also caters to weddings, conferences, and corporate events under its MICE (Meetings, Incentives, Conferences, and Exhibitions) FY24, the company reported revenue of Rs 442.11 crore, with Rs 409.45 crore already clocked in the first nine months of FY25, and a net profit of Rs 139.25 crore. Centrum Capital , Intensive Fiscal Services, and Motilal Oswal are acting as the book-running lead managers for the IPO. The equity shares will be listed on both NSE and BSE.
Time of India
8 hours ago
- Business
- Time of India
Cordelia Cruises operator Waterways Leisure files DRHP to raise Rs 727 crore via IPO
Waterways Leisure Tourism, the operator of India's only domestic ocean cruise brand Cordelia Cruises , has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to raise Rs 727 crore through an initial public offering (IPO). The Mumbai-based company plans to issue entirely fresh shares, with no offer-for-sale component. According to the DRHP, the company plans to utilize Rs 552.53 crore from the IPO proceeds to make lease-related payments to its step-down subsidiary, Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining funds will be used for general corporate purposes. The IPO is being launched through the book-building route, with at least 75% of the issue reserved for qualified institutional buyers (QIBs), and the remaining 15% and 10% allocated to non-institutional investors and retail investors, respectively. Waterways Leisure operates the MV Empress—India's only premium cruise liner under the Cordelia brand. Since its launch, the ship has hosted over 5.49 lakh guests and covered more than 2.25 lakh nautical miles along Indian coasts and international destinations. It offers 796 cabins, with pricing ranging from Rs 25,230 per night for interior rooms to Rs 1.15 lakh per night for the luxurious Chairman's Suite, depending on demand and seasonal factors. In FY24, Cordelia Cruises held a 65% market share in value terms within India's ocean cruise sector, according to a CRISIL report. Its itineraries span major Indian ports such as Mumbai, Goa, Kochi, Chennai, Visakhapatnam, and Lakshadweep, along with international routes to Sri Lanka, Malaysia, Singapore, and Thailand. To expand its fleet and capacity, the company plans to induct two new cruise ships — Norwegian Sky and Norwegian Sun — with guest capacities of 2,004 and 1,936, respectively. Cordelia Cruises is known for blending luxury with Indian cultural themes. It offers a range of experiences, including diverse cuisine, live Bollywood-inspired performances, and amenities such as gaming zones, pools, rock climbing walls, spas, and a casino. The cruise line also caters to weddings, conferences, and corporate events under its MICE (Meetings, Incentives, Conferences, and Exhibitions) services. In FY24, the company reported revenue of Rs 442.11 crore, with Rs 409.45 crore already clocked in the first nine months of FY25, and a net profit of Rs 139.25 crore. Centrum Capital , Intensive Fiscal Services, and Motilal Oswal are acting as the book-running lead managers for the IPO. The equity shares will be listed on both NSE and BSE.
Hans India
9 hours ago
- Business
- Hans India
IPO-bound Waterways Leisure Tourism swings to Rs 120 crore loss in FY24, revenue slides
IPO-bound Cordelia Cruises operator Waterways Leisure Tourism has reported a sharp reversal in its financial performance for the financial year ended March 31, 2024 (FY24) as the company posted a net loss of Rs 119.9 crore, compared to a profit of Rs 55.3 crore in previous fiscal (FY23). The significant decline comes ahead of its planned Initial Public Offering (IPO) worth Rs 727 crore. According to its Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), revenue from operations dropped to Rs 442.1 crore in FY24 from Rs 481.9 crore in FY23 -- a decline of around 8.26 per cent. Total income also fell by approximately 7.41 per cent to Rs 450.2 crore during the same period. Expenses also surged by nearly 29 per cent, reaching Rs 555.6 crore in FY24 as compared to Rs 430.9 crore the year before. However, the Mumbai-based luxury cruise company delivered a strong performance for the nine months ended December 31, 2024. During this period, it reported a profit after tax of Rs 139.25 crore on revenue of Rs 409.45 crore. Total expenses for the nine-month period stood at Rs 351.9 crore. The company is now aiming to raise Rs 727 crore through a fresh issue of shares. There is no offer-for-sale (OFS) component in the IPO. The proceeds will be used primarily for lease payments to its subsidiary, Baycruise Shipping and Leasing (IFSC) Private Limited and for general corporate purposes. The IPO will be conducted through a book-building process, with 75 per cent of the shares reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors. Centrum Capital Limited, Intensive Fiscal Services Private Limited and Motilal Oswal Investment Advisors Limited are acting as the book-running lead managers, while MUFG Intime India Private Limited is the registrar. The shares are proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), as per its DRHP.
