Waterways Leisure Tourism IPO: Cordelia Cruises operator files DRHP to raise ₹727 crore via public offer
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
Oriental Trimex to divest land assets, granite unit to streamline operations
NEW DELHI: Marble processor and importer Oriental Trimex on Saturday said it plans to divest land assets and a small granite unit in Odisha to reduce expenses and streamline operations. According to a business update shared on stock exchanges, the Odisha-based company said it plans to divest seven acres of land in the Somnathpur Industrial Estate , Balasore, and a small granite unit in the Rairangpur Industrial Area in Mayurbhanj district of the state. "This decisive action will streamline our operations, reduce recurring expenses, and enhance liquidity for more focused investments," it said. The company also said that it is poised to commence quarry operations at Black Granite mine this quarter and anticipate initiating commercial production shortly thereafter. The company received an official mining lease from the Odisha government for the Black Granite quarry in May this year. The lease encompasses 4.961 hectares in the village of Potteru in Malkangiri District. Oriental Trimex also announced deployment of a "smart cut" machine with an ultra-thin wire which, it said, will help reduce waste by 20 per cent, optimise yields and bolster profit margins. On demand scenario, the company informed that the rising trend of luxury apartment developments by prominent builders in the National Capital Region has created a vibrant market for its products, including high-quality imported marbles, indigenous granites, and marble-design vitrified tiles.
Time of India
16 minutes ago
- Time of India
Not under investigations, matter relates to India Cements: UltraTech on CCI direction
NEW DELHI: The country's leading cement maker UltraTech, on Saturday said it is not under investigation by the fair trade regulator CCI over alleged contravention of competition norms in tenders floated by state-run oil major ONGC. "It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India ("CCI"). The company has neither received any order from the CCI in this case nor have the company's financials been sought by the CCI," said the Aditya Birla group flagship firm in a BSE filing. It further said that its newly acquired entity India Cements Ltd (ICEM) is a party in case No 35 of 2020 and the South-India-based manufacturer is exploring legal options over the same. "The India Cements Ltd (ICL), a subsidiary of the Company, is party to Case No. 35 of 2020 and is separately making appropriate disclosures in this regard, while exploring legal options," it said. India Cements, which was earlier promoted by the Srinivasan family, was acquired by UltraTech in December 2024. It had acquired a 32.72 per cent stake from promoters and promoter group entities, along with a 22.77 per cent stake from the market of the Tamil Nadu-based company. Meanwhile, in a separate filing on Saturday, India Cements said it is "yet to receive a full version of the investigation report of the Director General, under the Competition Act, 2002". It is currently assessing its legal options and "there is no finding by the CCI at this stage against ICEM and no financial penalty has been levied". Earlier, in May this year, CCI had directed India Cements, along with Dalmia Bharat Cements and Shree Digvijay Cements and their executives to submit financial documents, after its Director General in its investigations found contravention of competition norms. The CCI direction came over a complaint filed by ONGC alleging cartelisation in its tender. The Competition Commission of India (CCI) has also directed to submit their audited financial statement, including balance sheet and profit and loss account, within eight weeks of the order. Besides, CCI has also directed their executives to submit detailed financials and income tax records for five years, along with formal responses to the investigation report. On Friday, Dalmia Bharat, in a regulatory filing, said CCI is yet to hear in the matter or pass any formal order. "DCBL remains committed to full regulatory compliance and is cooperating with the authorities," it said. The CCI direction came over a complaint filed by ONGC alleging cartelisation in its tenders. Following this, the fair trade regulator had on November 18, 2020, directed its probe unit Director General to look into the issue. The DG had submitted the report of its investigation on February 18, 2025, in which found contraventions of the competition regulations. It had found that India Cements, along with Shree Digvijay Cement and Dalmia Cement, with a middleman named Umakant Agarwal, engaged in anti-competitive collusion. Later, CCI on May 26, 2025, considered the investigation report and in a four-page order also directed the cement manufacturer to submit income derived from sales to alleged contraventions by the PSU. The CCI notice also mentioned if there is non-furnishing of the financial details or incomplete/false information, within the time frame by the companies, then they would be liable under section 45 of the Act.
News18
18 minutes ago
- News18
Who Is Vaibhav Taneja, Indian-Origin Tesla CFO Handling Finances For Musk's America Party?
Last Updated: Taneja's official role in Musk's political outfit was confirmed through paperwork submitted to the US Federal Election Commission Indian-American Vaibhav Taneja, currently the Chief Financial Officer (CFO) at Tesla, has been named as the Treasurer and Custodian of Records for Elon Musk's newly launched political venture, the America Party. On Saturday, Musk announced the formation of the America Party through a post on his social media platform, X, saying it aimed to 'give Americans their freedom back" and challenge what he called the country's 'one-party system". 'Today, the America Party is formed to give you back your freedom," Musk wrote. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," added the billionaire, who heads Tesla and SpaceX. Taneja's official role in Musk's political outfit was confirmed through paperwork submitted to the US Federal Election Commission (FEC), which lists him as both Treasurer and Custodian of Records of the party. 🚨 BREAKING: It's FEC filing under Elon Musk's name just confirmed the creation of a brand new political vehicle, the AMERICA PARTY. The paperwork lists Tesla CFO Vaibhav Taneja as both Treasurer and Custodian of Records. You don't file FEC paperwork unless you're… — Brian Allen (@allenanalysis) July 6, 2025 Who Is Vaibhav Taneja? Vaibhav Taneja is a seasoned financial executive and the current CFO at Tesla. He holds a commerce degree from Delhi University and is a qualified Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). He began his professional career at PricewaterhouseCoopers (PwC) in India before moving to the United States in 1999. In March 2016, Taneja joined SolarCity Corporation, a solar energy company, as part of its finance and accounting team. Following Tesla's acquisition of SolarCity in the same year, he transitioned to Tesla in 2017 as Corporate Controller. Taneja rapidly moved up the ranks, becoming Tesla's Chief Accounting Officer in 2019 and eventually taking over as Chief Financial Officer in 2023. With over 17 years of experience across sectors such as technology, retail, and telecom, Taneja is well-versed in US GAAP, SEC filings, and financial audits. He has worked closely with senior executives and board members, helping companies streamline operations, ensure compliance, and reduce revenue leakage. First Published:
