Axis PE invests Rs 142 cr in Neesa Leisure, Corrtech Intl

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New Delhi, Jun 9 (UNI) Axis Private Equity Ltd, a part of Axis Bank, today said it has invested about Rs 142 crore in Neesa Leisure Ltd and Corrtech International Pvt Ltd.

Axs PE has invested Rs 75 crore in Neesa and Rs 67 crore in Corrtech reaffirming its commitment to invest in companies involved in infrastructure development in India, a company statement said.

This announcement comes after Axis PE's investment of Rs 120 crore in Harish Chandra (India) Ltd earlier this month, it added.

''We have been actively exploring investment opportunities in the oil and gas infrastructure space and believe that Corrtech has immense potential to be a key player in the oil and gas pipeline business,'' said Axis PE MD and CEO Alok Gupta.

Neesa Leisure develops and operates resorts and hotels under the 'Cambay' brand name. It manages three properties currently and plans to have eight properties in the next three years spread over five cities in western India.

Corrtech, based in Ahmedabad, is involved in a number of high growth business segments linked to oil and gas transportation infrastructure and repairs and services of gas turbines. It controls more than 30 per cent of the market share in providing corrosion protection solutions.


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