The Hindu Business Line : Axis Private Equity to invest in two more cos

Mumbai, June 10 The private equity arm of Axis Bank Axis Private Equity (Axis PE) has announced combined investments worth Rs 142 crore in Neesa Leisure Ltd and Corrtech International Private Ltd.

“Neesa Leisure, a company that develops and operates resorts and hotels under the ‘Cambay’ brand has received an investment of Rs 75 crore from Axis PE,” said a release issued by the company.

Axis PE has invested another Rs 67 crore in the Ahmedabad-based Corrtech International, which is involved in building oil and gas transportation infrastructure. It also repairs and services gas turbines.

Growth sectors

“Both these investments fall inline with our vision and mission of investing in high-growth potential sectors,” said Mr Alok Gupta, MD & CEO, Axis PE, adding “in hospitality space there is huge demand-supply gap.”

Among Axis PE’s favoured investment themes in infrastructure development are hospitality, railways, development of oil and gas pipelines, water supply and sanitation. The above investments have been made after the closure of the Axis PE’s Axis Infrastructure Fund (AIF), which collected Rs 600 crore when it announced its first closure.

“AIF investments will be in growing infrastructure and infrastructure enabling companies through equity investments with a minimum deal size of $20 million.”

Investments in the above two companies come close after Axis PE announced investments of Rs 120 crore in Harish Chandra (India) Ltd, earlier this month.

More Stories on : Venture Capital

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Life insurance cos see value buying as FIIs exit

Bosch Chassis considering hiking offer price for buyback

Several bank stocks hit 52-week lows

Boost to Educomp’s ICT presence

Open interest up in Ranbaxy Lab

Great Eastern Shipping (Rs 429.75): Sell

Day Trading Guide

Axis Private Equity to invest in two more cos