Private equity firm, Axis Private Equity (Axis PE) informed that 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.
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.
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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