Standard Chartered PE has invested R200 Cr for minority stake in @Ocean Limited, a port operations and management services company.
The company will use part of the funds for financing its capital expenditure and remaining to expand the client base and add new businesses catering to offshore exploration.
As part of this investment, Rahul Raisurana, MD, Standard Chartered PE will join OSL’s Board.
Promoters - a group of marine professionals hold 55% stake in the company leaving the rest with financial investors like IFC Washington, Eredene Capital, India Equity Partners and Park Equity Holdings.
Founded in 1995, Ocean Sparkle Limited (OSL) and its JV companies, collectively referred to as the OSL Group are engaged in the provision of marine vessels and comprehensive port management services across various major, non major and captive ports in India. OSL is promoted by P. Jairaj Kumar, Sanjeev Dhawan, A.K. Sawhney and R.Virender Prasad.
Ocean Sparkle, with a fleet of 81 offshore vessels, operates in most of India's leading ports servicing top corporate clients Reliance Industries, Dempo and Salgaonkar. Investment bank MAPE Advisory is brokering the deal for Ocean Sparkle, which offers pilotage, mooring and transhipment services.