Adani Ports buys Ocean Sparkle for Rs 1700 cr through Adani Harbour Svces

Ocean Sparkle is a leading player in towage, pilotage, and dredging with an asset base of 94 own vessels and 13 third-party-owned vessels

The stock of Adani Ports and Special Economic Zone went up 3 per cent on Friday, after the

company announced that it was buying Ocean Sparkle, a leading third-party marine services provider, at an enterprise valuation of Rs 1,700 crore.

Ocean Sparkle is a leading player in towage, pilotage, and dredging with an asset base of

94 own vessels and 13 third-party vessels. The company, with Rs 300 crore of free cash, was established in 1995 by a group of marine technocrats with P Jairaj Kumar as chairman. Kumar will continue as chairman of the OSL board.

According to the plan, The Adani Harbour