mumbai sbi macquarie may back port operations company ocean sparkles acquisition of tag offshore a mumbaibased marine support services entity for rs 400 crore said sources directly briefed on the matter indias largest harbour towage company ocean sparkle offers pilotage mooring and transhipment services in nine out of the 12 major ports in india it also supports corporates like reliance industries dempo and salgaonkar with port their functions tag offshore was formed through the buyout of essar shippings offshore business the acquisition of tag offshore will help the rs 350crore ocean sparkle promoted by a team of marine industry professionals to expand their client base and add new businesses catering to offshore exploration sector sources said ocean sparkle planned to clinch the acquisition with private equity money and mezzanine financing the company has been in discussions with three pe firms including sbi macquarie to raise the capital valuing itself at around rs 1200 crore a senior executive at ocean sparkle declined to comment citing non disclosure agreements emails and phone calls to tag offshore remained unanswered mape advisory and macquarie are advising ocean sparkle on the acquisition and fund raising promoters and their associates hold a 55 stake in the privately held ocean sparkle leaving the rest with aclutch of financial investors there is increased investor interest in port infrastructure services with indias marine shipments rising sharply on the back of robust economic development indias top corporates have been acquiring natural resources across the globe to meet the countrys energy needs ocean sparkle with indias largest fleet has a joint venture with singapores psa international the worlds second largest port operator to executive longterm service contracts in some select ports like ennore mormugao and dahej