NYLIM invested Rs. 200-Cr in Karaikal Port; Ascent, IDFC Project make part exit

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NYLIM-Jacob Ballas, via NYLIM Jacob Ballas India (FVCI) III LLC, has invested Rs. 200 crore in Karaikal Port for a minority stake. The deal involved a mix of subscription to fresh shares and secondary purchase of shares from existing investors Ascent Capital and IDFC Project Equity. Karaikal Port, which is promoted by the Chennai-based MARG, will use the fresh funds in its expansion plans which will enhance the port’s capacity from the already planned expansion of 21 MMTPA to 28 MMTPA. Sunil Chawla of NYLIM-JB will join the Karaikal Port board.

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