Shareholders Approve 1:10 Share Split for Waterways Leisure Tourism Limited; Record Date Set
Waterways Leisure Tourism Limited, which operates Cordelia Cruises, announced that its shareholders approved a proposed sub-division of the company's equity shares in a 1:10 ratio through a postal ballot. The move aims to increase accessibility and liquidity for investors as the company enters a new phase of growth.Under the approved resolution, each existing fully paid up equity share, which previously had a face value of ₹10, will be subdivided into 10 equity shares, each with a face value of ₹1.
The Company has set August 26, 2026, as the Record Date for determining shareholder eligibility to receive the subdivided equity shares following the corporate action.
Financial Impact and Rationale
The sub-division is intended to make Waterways Leisure Tourism's equity more accessible to a wider investor base, especially retail investors, thereby facilitating greater participation and liquidity in the secondary market.Following the completion of this corporate action, the company's paid up share capital will remain unchanged at ₹723.95 Million. The split increases the total number of equity shares from 7,23,94,543 shares of ₹10 each to 72,39,45,430 shares of ₹1 each fully paid up.
Key figures detailing the shareholder approval and capital structure are summarized below:
| Metric | Prior to Share Split | Post Share Split |
|---|---|---|
| Face Value per Share | ₹10 | ₹1 |
| Number of Equity Shares | 7,23,94,543 | 72,39,45,430 |
| Paid Up Share Capital (Unchanged) | N/A | ₹723.95 Million |
Operational Expansion and Market Positioning
The shareholder approval represents a significant milestone as Waterways Leisure Tourism moves forward with the growth of Cordelia Cruises. The company currently operates the Empress vessel and has announced plans to expand its fleet by adding Sky in October 2026, followed by Sun in November 2027. These additions are set to strengthen the capacity to serve growing demand within India's cruise tourism ecosystem.Waterways Leisure Tourism Limited is noted as India's leading cruise company and offers cruise holidays across both domestic and international destinations. Its services include an integrated onboard proposition spanning dining, accommodation, entertainment, wellness, gaming, retail, MICE, weddings, and group travel. Since commencing operations, more than 7.8 lakh guests have sailed with Cordelia Cruises.
Commenting on the shareholder approval, Jurgen Bailom, Chairman of the Board, Executive Director, and CEO, stated that the move is an important milestone in building a stronger and more accessible listed company. He added that the decision reflects a commitment to making participation in their growth journey accessible to a wider base of investors while supporting greater liquidity and engagement in equity.
CORDELIA Stock Price Movement
Waterways Leisure Tourism Limited slipped by 1.47% on Wednesday, concluding the session at ₹825.50. The stock traded amidst high activity, with a total volume of 82,363 shares and seeing intraday movement between ₹818.45 and ₹837.50.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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