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.
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.
