The Hindu Business Line : Axis PE invests Rs 142 cr in two cos

MUMBAI: Axis Bank's private equity arm, Axis PE, on Monday said that it has invested Rs 75 crore and Rs 67 crore in Neesa Leisure Limited and Corrtech International Pvt Ltd, respectively.

These investments further reaffirm Axis PE's commitment to invest in companies involved in infrastructure development of the nation-hospitality, railways, development of oil and gas pipelines, water supply and sanitation, a press release issued here stat ed.

The two investments come close after Axis PE making an investment of Rs 120 crore in Harish Chandra (India) earlier this month. Neesa Leisure develops and operates resorts and hotels under the 'Cambay' brand name.

The company currently manages three properties and plans to have seven properties in the next three years spread over five cities in western India. Corrtech is an Ahmedabad-based company involved in a number of high-growth business segments linked to oil and gas transportation infrastructure and repairs and services of gas turbines.

Axis PE's Managing Director and CEO, Mr Alok Gupta, said "we are very pleased to announce the closure of these investments. Both these investments fall in line with our vision and mission of investing in high-growth potential sectors."

Axis PE recently announced the first closure of its Axis Infrastructure Fund (AIF) at Rs 600 crore. Its eventual targeted corpus is Rs 2,000 crore.

AIF will seek and participate in growing infrastructure and infrastructure enabling companies through equity investments with a minimum deal size of $20 million, the release said. - PTI

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