Jacob Ballas India invests ₹200 cr in MARG Karaikal Port1 min read . Updated: 02 May 2012, 04:26 PM IST
Jacob Ballas India invests ₹200 cr in MARG Karaikal Port
Mumbai: Karaikal Port Pvt. Ltd, a unit of Chennai-based MARG Ltd, said on Wednesday that NYLIM Jacob Ballas India (FVCI) III LLC, or NYLIM-JB Fund, has invested ₹ 200 crore in MARG Karaikal Port for a minority stake.
MARG Karaikal Port is a multi-commodity port between Chennai and Tuticorin. GRK Reddy, chairman and managing director at MARG Ltd, said the investment comes in at an opportune time as the port had already attracted private equity investments by India Infrastructure Fund and Ascent Capital Advisors in the past.
Sunil Chawla, a partner at Jacob Ballas Capital India Pvt. Ltd (JBC) and investment advisor to the investment manager of NYLIM-JB Fund, will be joining the board of Karaikal Port.