PORTFOLIO

Ocean Sparkle is India's largest independent port infrastructure services company servicing the water-side needs of Indian ports. It now offers a comprehensive range of marine services, and has an estimated 70% share of the market. As India's foreign trade grows and notably its sea-borne trade rises, Indian ports look to partner Ocean Sparkle to manage their port services more efficiently. With a fleet of nearly 90 vessels across nearly 20 ports, Ocean Sparkle is now set to build on its base.

GPPL is India's first private sector port. It is managed and majority-owned by the AP Moller Maersk Group that runs the largest global shipping line and manages around 63 container terminals across the world.

Pipavav Port is now equipped with capabilities to handle multi-cargo and multi-utility operations. In 2010, Pipavav was the fastest growing Indian port and the fifth fastest growing container terminal in the world. With its major capital expenditure recently completed, GPPL is set to meet the growing demand on India's west coast where capacity at existing major ports face severe constraints and congestion.

Aegis Logistics is a leading oil, gas and chemicals logistics and storage company in India. It has over three decades of experience in this space. It counts among its customers India's major oil refiners, petrochemical companies, oil and gas importers and chemical traders. Aegis has nearly 300,000 kilo litres of liquid storage capacity with facilities at three of India's major western ports. Aegis is also a major player in liquid petroleum gas storage and distribution. As the trend to use third party logistics providers for liquid and gas business grows, and demand for storage capacity at India's ports rises, Aegis is uniquely set to cater to this demand and further expand its footprint and volume growth.

Hathway is the largest cable television and broadband player with a pan-India presence. It belongs to the Rajan Raheja stable of companies (one of the best known Indian business house). Rupert Mudoch-controlled NewsCorp Group is also a major long term investor in the company.

We believe the company is poised to break into the major league of media distribution companies of India. The Indian market is about to take major steps towards digitization of the cable network as the Indian Government implements its announced policy of universal digitization, hugely improving the content delivery platform for customers. Hathway is set to lead an expected wave of consolidation and digitization. The long expected 'second revolution' of the cable industry is about to take place, raising myriad possibilities for content and content-delivery for cable television and broadband in India. This makes Hathway an exciting investment story.