Axis PE invests $15 Mn in Vishwa
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Bangalore: Axis Private Equity, (Axis PE), a Axis Bank company to manage private equity funds invest $15 million in Vishwa Infrastructures and Services that executes projects in water service. This investment further reaffirms Axis PE's commitment to invest in companies involved in infrastructure development of the nation in high growth sectors like water supply and sanitation, hospitality, railways and development of oil and gas pipelines. This comes close after Axis PE announced three significant investments totaling over $65 million (Rs 260 crores) in Harish Chandra, Neesa Leisure and Corrtech International respectively last month. "We liked the entrepreneurial drive of the promoters who have built a successful and profitable business. Axis PE funds will enable them to scale up to become one of the top players in the Water/ Sewage segment in the next few years." says Alok Gupta, MD & CEO, Axis PE. Further, commenting on the Water Supply and Sanitation space Gupta said, "Urban Infrastructure in India is in need of urgent upgradation. Availability of water should be one of the key objectives for any government. JNNURM scheme has triggered high growth in the water supply, treatment and sewage disposal area. Vishwa is well positioned to capitalize on these opportunities." Vishwa executes projects in the water supply and sanitation sector, which includes water treatment, and carriage projects for water and sewage; a competency it has gained over the last 15 years. The Company is backward integrated and has a manufacturing facility near Hyderabad for production of pre-stressed concrete, reinforced concrete and mild steel pipes. Vishwa has recorded revenue growth of more than 80 percent over the last year and expects to achieve $250 million ( 1,000/- crores) in revenues in the next three to four years.

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