Cordelia Cruises said it is planning to expand, according to a press release.

Following a board meeting in Mumbai, the company said it will increase capacity with the addition of two ships at approximately 2,000 guests each.

“The board further decided, subject to regulatory approvals, to raise funding/capital through appropriate means of financing including an Initial Public Offering (IPO) to raise approximately Rs. 800 Crores in the Indian capital market by issuing equity to institutional and other eligible investors,” the company announced.

The company’s President & CEO, Jurgen Bailom, stated, “We are in discussions with major cruise companies from the US & Europe, who are looking to divest ownership of their smaller ships with passenger capacities ranging between 2,000 to 2,500 guests per ship, as they transition to newer vessels with capacities of 5,000-7,000 guests.

“We have multiple offers from existing cruise lines as they upgrade their fleets with larger ships. Given the current market dynamics, it is an opportune time for us to expand our fleet,” Bailom added.

Under the visionary leadership of the Honorable Prime Minister Modi, the Government of India has designated cruise tourism as a priority sector, the company said. India’s cruise industry is poised to substantially boost both domestic and international tourism while generating significant employment opportunities for the nation’s youth.