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Axis PE invests in HCIL
May 17, 2008: Axis Bank's private equity arm has invested Rs.126 crore in Delhi-based railway line manufacturer Harish Chandra India (HCIL), through its recently-launched Axis Infrastructure Fund-I.
HCIL builds tracks, bridges, roads and does electrification work for the railways and has orders worth Rs.1,200 crore. The company has laid 120 km of railway track and is involved in the work of another 200 km in Orissa. Axis has done the first closure of Rs.630 crore for its Rs.2,100 crore infrastructure fund.
The company is planning to raise the remaining $350 million soon under the name Axis Infrastructure Fund-II. The fund would invest in power, aviation, hospitality, pipeline and logistics and is in talks with many companies.
Source: Hindu Business Line