Ascent Capital is investing Rs200Cr in Marg Ltd's Karaikal Port Pvt Ltd. The deal includes a fresh equity infusion of Rs50Cr and a stake sale by promoters amounting to Rs150Cr.

Ascent Capital has completed the first tranche of its investment by purchasing Rs. 125 crore worth of equity shares of KPPL from MARG Limited and by investing an amount of Rs. 32 crore by subscribing to CCPS of KPPL.

Karaikal will be used for the MARG Karaikal Port Phase 2A expansion plans. This will enhance the port's capacity from 21MMTPA to 28MMTPA.

Transaction Reference: IndiaInfoline

Marg Ltd was awarded a 30-year contract in 2006 by the Pondicherry government to develop a port at Karaikal with a capacity to load 47MTPA.

The project is being done in three phases, with an investment of Rs3,300Cr. The port will have 5 berths including mechanized coal berths, depth upto 16.5 mtrs, liquid cargo handling capabilities and specialized warehouses for agro products.

Karaikal Port's Operational Performance

Karaikal raised Rs150Cr from IDFC Project Equity's India Infrastructure Fund in 2010.

Other investments in ports include, Warburg Pincus' $35Mn investment in Gangavaram Port and 3i Group's $161Mn investment in Krishnapatnam Port Company Ltd.

Previous Article

Ushdev International To Raise $20-40Mn For Buying Windfarms

Next Article

PE Backed Augere To Sell 4G Spectrum, Quit India Operations

KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
02/05/12	IDFC Project (Exit) - Karaikal Port - Jacob Ballas	Private Equity	New York Life International India Fund I	3.80
16/09/11	Karaikal Port - Ascent Capital	Private Equity	Ascent Capital	42.13
22/08/11	Karaikal Port - Ascent Capital	Private Equity	Ascent Capital	28.76
14/07/11	Karaikal Port - Fund Raising	Private Equity	Looking For	-
03/03/10	Karaikal Port - IDFC Project Equity	Private Equity	IDFC India Infrastructure Fund	32.60

 

  Recent Transactions In The Sector

Date	Type	Buyer	Target	Size ($mn)	State
17/05/12	M&A	CESC Limited	Pachi Hydropower Projects Limited	-	Completed
17/05/12	M&A	CESC Limited	Papu Hydropower Projects Limited	-	Completed
14/05/12	M&A	Jain Irrigation Systems Limited	NaanDanJain Irrigation Limited	-	Completed
10/05/12	M&A	IRB Infrastructure Developers Limited	MVR Infrastructure And Tollways Private Limited	24.39	Completed

 

  Profiles

Fund
Name	Corpus	Target Sector	Website	KeyContact
Ascent Capital		Infrastructure Retail Healthcare Education Transport & Logistics	www.ascentcapital.in	Raj R KondurAbhishek LoonkerDeepak GowdaJayashree SudharsanamLakshmi Pattabi RamanTeresa MathewA.P.Vasantha Kumarvasanth @ascentcapital.inRaja KumarAjay MittalSubhasis MajumderSunil K. KolangaraU K SinhaVasanthakumar Ayyavu Palanichamy

Company
Name	Promoters	Office	Competitor	Website
Marg Limited	Marg Capital Markets Limited G R K Reddy & Family	Marg Axis,4/318, Old Mahabalipuram Road, Kottivakkam, Chennai-600041.	Gayatri Projects Limited Hindustan Construction Company Limited SKIL Infrastructure Limited IVRCL Limited (Formerly IVRCL Infrastructures & Projects Ltd)	www.marggroup.com
Karaikal Port Private Limited	Marg Limited	Keezha Vanjore Village T R Pattinam Karaikal Pondicherry- 609606	Gangavaram Port Limited Adani Ports And Special Economic Zone Limited (Formerly Mundra Port and Special Economic Zone Limited)	www.karaikalport.com

  Advisor

Spark Capital