Standard Chartered Private Equity (SCPE) has invested Rs 200 crore for a minority stake in Ocean Sparkle Limited (OSL), a port operations and management services company.
Part of the funding from SCPE will help finance OSL’s capital expenditure plans, a company statement said.
Founded in 1995, OSL currently serves the key ports across India’s coastline and has a vast tug fleet in the country.
OSL's client base includes 10 of the 13 major ports in India including JNPT, Ennore, Paradip, Chennai, Mumbai, and Kandla.
As part of the SCPE investment, Rahul Raisurana, Managing Director, Standard Chartered Private Equity is joining OSL’s Board of Directors.
Rahul Raisurana, Managing Director, Standard Chartered Private Equity, said, "The country’s growing economy and growth in maritime traffic will provide a strong impetus for the growth of port infrastructure over the next decade. This will provide strong prospects for O&M activities at ports.”