Skip to main content

Deal Alert: Shalivahana raises Rs. 90-Cr from Axis PE, IL&FS

Hyderabad-based green energy firm Shalivahana Green Energy Ltd. has raised Rs. 90 crore ($18 million) from Axis Private Equity and IL&FS Financial Services. Shalivahana is a renewable energy firm focused on biomass and small hydro power projects. While Axis PE has invested Rs. 54 crore ($11 million), IL&FS has invested Rs. 36 crore.

The deal marks Axis PE’s fifth investment, taking its total investments to Rs. 374 crore. The firm's previous investments have been spread across sectors like water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality.





“This investment further reaffirms Axis PE’s commitment to invest in infrastructure related companies in high growth segments such as renewable energy.” says Mr. Alok Gupta, MD & CEO, Axis PE. "Over 60% of India’s generation capacity is from thermal sources whereas renewable energy sources (excluding hydro projects above 25 MW) account for a mere 9%. As per Ministry of New and Renewable Energy estimates, around 15,000 MW of additional renewable energy capacity is planned to be added during the 11th five year plan. SGEL’s proven project development and execution track record provides a strong platform to capitalise on the future growth potential in the sector and we are delighted to partner the Company in its growth plans," Mr Gupta added.

About Axis Private Equity

Axis PE, a company sponsored by Axis Bank manages the Axis India Fund (AIF) with a targeted corpus of INR 2,000 Cr (USD 400 Mn). AIF will seek to invest in the equity of rapidly growing infrastructure related companies. Axis PE’s team comprises of investment professionals who have a combined experience of over 80 years and who have been investing in India for many years.

Popular posts from this blog

VC Interview: Shailendra Singh of Sequoia Capital India

In a recent interview to Venture Intelligence, Shailendra Singh discussed some of the firm’s newer investments in the early stage segment including in the online payments space, the progress at a few existing portfolio companies and the active role the firm is playing in helping its portfolio companies scale and succeed in India and globally. Prior to joining the firm in 2006, Singh was a strategy consultant at Bain & Company in New York and before that, an entrepreneur in the digital media industry.

Venture Intelligence: How does Sequoia go about identifying potential early stage investments in India? Is there anything different you are doing today than, say, a couple of years back?

Shailendra Singh: There is a lot more focus on technology investing and early stage investing. In general, as you might remember a few years ago, we were doing primarily growth investing but in the past 18-odd months, we have had a very strong focus on early stage and that’s continuing. In terms of how…

PE investments in 2018 crosses $33-B to set new all-time high

Big Ticket investments in consumer apps Swiggy & Byju’s dominates year-end activity, even as investments in Core Sectors slow down
Private Equity (PE) investments in India rose to their highest ever figure of $33.1 billion in 2018 (across 720 transactions), according to data from Venture Intelligence (http://www.ventureintelligence.com), a research service focused on private company financials, transactions and their valuations. While PE investments have already surpassed the previous high - $24.3 Billion across 734 deals in 2017 - in the first nine months of 2018, the mega investments in Consumer Internet & Mobile startups such as Swiggy and Byjus towards the year-end, helped the 2018 total vault by 36% year-on-year. (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate.) The year witnessed 81 PE investments worth $100 million or more (accounting for 77% of the total investment value during the period), compared to 47 such transac…

KPMG Tops League Table for Financial Advisor to Private Equity Transactions in H1 2018

The transaction advisory unit of KPMG claimed the top position in the Venture Intelligence League Table for Transaction Advisor to Private Equity deals in the first half of 2018, advising deals worth $1.7 Billion. KPMG acted as the financial advisor to NHAI in the $1.5 Billion investment by Macquarie to operate 9 highway projects under the toll-operate-transfer (TOT) model. Ernst &  Young (which advised the $730 million asset sale by Indiabulls Real Estate to Blackstone) and Kotak (which advised the Vishal Megamart - Partners Group deal) accounted for the second and third spots respectively.
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
Arpwood Capital (which advised the $760 million investment by Temasek in the $2.1 Billion Schneider Electric buyout of L&;T Electrical and Automation business) …