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Axis PE Invests $30M In Delhis Rail Line Maker Harish Chandra

Posted on May 17, 2008

Axis Private Equity, the private equity arm of Axis Bank, has made its maiden deal. It has invested $30 million (Rs 126 crore) in Delhi-based railway line manufacturer Harish Chandra India Ltd (HCIL), through its recently-launched Axis Infrastructure Fund-I. Business Standard reported that Axis PE has picked up over 25 per cent stake in the company. It will get two board memberships in the company. Axis recently announced the first closure of $150 million of its $500 million infrastructure fund. The second tranche of funds worth $350 million will be raised under the Axis Infrastructure Fund-II...

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