Private equity fund India Equity Partners (IEP) has picked up an undisclosed stake in Ocean Sparkle lTD, a Hyderabad-based port management company, for $18 million, reports The Economic Times. IEP has bought the stake held by APIDC Venture Capital in the company, which, according to ET, is probably at a valuation of $100 million. The founders of the company had the first right of refusal to buy the stake from APIDC Venture Capital, but did not exercise the right since the valuation was "high".
Contributor: Amit Sharda
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