The Adani Harbour Services Ltd (TAHSL), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has entered into an agreement to acquire 100 % ownership in Ocean Sparkle Ltd (OSL), India’s top third-party marine services provider. Towage, pilotage, and dredging are some of the company’s main activities.
OSL is a market leader, with a fleet of 94 owned vessels and 13 owned by other parties. OSL has a market capitalization of Rs1,700 crore and Rs300 crores in cash. Mr. P Jairaj Kumar, who will continue as Chairman of the OSL board, founded the company in 1995 with a group of marine technocrats, with Mr. P Jairaj Kumar as Chairman and MD.
“Given the synergies between OSL and Adani Harbour Services, the consolidated business is anticipated to grow in five years with increased margins, providing considerable value for APSEZ shareholders,” said Karan Adani, CEO and Whole-Time Director of APSEZ.
