Private equity firms, International Finance Corp. (IFC) and a clutch of angel investors are selling their 65% stake in Hyderabad-based Ocean Sparkle Ltd, said two people aware of the development. The stake sale by Queensland Investment Corp. (QIC), India Equity Partners, Affirma Capital and IFC, and some angel investors could be among the largest deals in the Indian port operations sector. While QIC, India Equity Partners, Affirma Capital and IFC—a World Bank group firm—hold 53% in Ocean Sparkle, angel investors own a 12% stake. The remaining 35% is held by founders, including P. Jairaj Kumar, chairman and MD of Ocean Sparkle. An Affirma Capital spokesperson declined to comment.

Source: Mint June 02, 2021 18:42 UTC