New Delhi: 'Adani Ports and Special Economic Zone Limited' (APSEZ) through its subsidiary 'The Adani Harbor Services Limited (TAHSL)' has given Rs 1,530 crore to Ocean Sparkle Limited (OSL), India's largest marine service provider. Bought in. The company has entered into an agreement to buy 100% stake in OSL. The company says that this investment will help it increase its activities in the Marine Service Segment. The transaction is expected to be completed within a month.

APSEZ will pay Rs 1,135.30 crore to OSL to buy 75 per cent stake. Also, Savi will pay Rs 394.87 crore for indirect acquisition of 24.31 per cent of OSL through 100 per cent stake of Jana. Karan Adani, CEO and Whole Time Director, APSEZ said that, "Given the synergy between OSL and Adani Harbor Services, the total business is expected to double in the next five years with better margins, which will benefit the shareholders of APSEZ."

He added, “This acquisition not only gives APSEZ a significant share of India’s maritime services market, but also gives us a platform to expand our presence in other countries.” This facilitates APSEZ towards becoming the largest port operator internationally by 2030 and the largest integrated transport utility in India.

What is OSL?

Let us tell you that OSL is the largest third party marine service provider company in the country. OSL includes activities such as towage, pilotage and dredging. It was founded in 1995 by a group of marine technocrats. Its chairman and MD is P Jayaraj Kumar, who will continue as the chairman of the OSL board. OSL owns 94 ships and 13 third party owned vessels. The business value of OSL is Rs 1,700 crore with cash of Rs 300 crore in the company.

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