Axis PE invests Rs 120 crore in HCIL
Private equity firm, Axis Private Equity (Axis PE) on Saturday said it has picked up around 25 per cent of equity stake in infrastructure development firm Harish Chandra (HCIL) with an investment of Rs 20 crore.
By PTI |
MUMBAI: Private equity firm, Axis Private Equity (Axis PE) on Saturday said it has picked up around 25 per cent of equity stake in infrastructure development firm Harish Chandra (HCIL) with an investment of Rs 20 crore.
"We have picked up around 25 per cent equity stake in HCIL with an investment of Rs 120 crore," Axis PE's Managing Director and CEO Alok Gupta told PTI here.
Axis PE's strategy is to invest in companies involved in infrastructure development like transport, energy, oil and gas pipelines, urban infrastructure and development of hotels.
The company, with this fund, wishes to rapidly scale up its business and wants to deliver benefits to its investors and the nation, he said.
The fund, Axis Infrastructure Fund, which had set a target of raising USD 500 million, has already mopped up USD 150 million within a period of six months from its launch.
The company has kept a minimum deal size of USD 20 million. The fund has a life of 10 years with five years for investment and five years for disvestment.
"We have picked up around 25 per cent equity stake in HCIL with an investment of Rs 120 crore," Axis PE's Managing Director and CEO Alok Gupta told PTI here.
Axis PE's strategy is to invest in companies involved in infrastructure development like transport, energy, oil and gas pipelines, urban infrastructure and development of hotels.
The company, with this fund, wishes to rapidly scale up its business and wants to deliver benefits to its investors and the nation, he said.
The fund, Axis Infrastructure Fund, which had set a target of raising USD 500 million, has already mopped up USD 150 million within a period of six months from its launch.
The company has kept a minimum deal size of USD 20 million. The fund has a life of 10 years with five years for investment and five years for disvestment.
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