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Infrastructure, Real Estate
& Conglomerates

We are pioneers of InvITs/REITs in India, having executed these across asset classes. We have several firsts to our credit, having crafted award-winning, bespoke solutions that have successfully served the interests of all stakeholders – company, regulator and investor. This practice has been honed over three decades of raising Equity/Structured Finance and closing M&A transactions across Real Estate, Energy and Infrastructure– from early asset-ownership structures to contemporary Dev.Co/Op.Co models. Our extensive network of both equity and yield-focused investors helps offer solutions across the risk-return spectrum.

Segments

  • InvITs and REITs across infrastructure asset classes including Roads, Commercial Real Estate, Malls, Telecom Towers, Warehousing & Renewables
  • Real Estate and Hospitality
  • Renewable Power assets including value-chain adjacencies – manufacture of Solar Modules, Cells, glasses, wind turbines etc.
  • Transition fuels like Natural Gas and associated infrastructure like CGD/LNG terminals
  • Transportation – Roads, Waterways, Ports and Airports – across asset ownership and EPC
  • Logistics assets and services, warehousing
  • Conventional Power, thermal and hydropower
  • Power Transmission and Distribution

Transactions

  • ₹ 50,000 Mn

    IPO Aug 2021

  • ₹ 209,870 Mn

    Rights Issue Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 10,400 Mn

    IPO Dec 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 209,870 Mn

    Rights Issue Nov 2021

  • ₹ 10,400 Mn

    IPO Dec 2021

  • ₹ 50,000 Mn

    IPO Aug 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 209,870 Mn

    Rights Issue Nov 2021

  • ₹ 10,400 Mn

    IPO Dec 2021

  • ₹ 50,000 Mn

    IPO Aug 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

  • ₹ 8,670 Mn

    QIP Nov 2021

View More

Axis Capital’s practice for Infrastructure, Real Estate & Conglomerates is led by

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Axis Capital’s practice for Infrastructure, Real Estate & Conglomerates is led by

  • Suraj Krishnaswami Managing Director

    Suraj heads Axis Capital’s industry coverage for Infrastructure, Real Estate, Conglomerates and Energy (in addition to Telecom, Media & Enterprise Tech). He also handles several key conglomerate relationships for Axis Capital. Based in Mumbai, he has been an integral part of Axis Capital/ENAM with ~17 years of experience across M&A advisory, Equity Capital Markets, PE Advisory, and Industry Coverage teams. He also set up the InvIT/REIT practice at Axis and is one of the pioneers of the product in India. Suraj has closed more than 120 deals and raised close to USD 20 bn across deals. He holds an MBA degree from IIM Lucknow and a B.Tech in Chemical Engineering from Anna University, Chennai.

    Reach Suraj
  • Samar Sarda Managing Director

    Samar leads real estate, REITs, hospitality coverage for Axis Capital. He has 14 years of experience in real estate and hospitality coverage, initially as a lead analyst on the institutional research side before moving to the coverage team. He has previously worked with organizations like Kotak Institutional Equities and Anand Rathi. Samar has an MBA degree from KJ Somaiya and a bachelor’s degree in mechanical engineering.

    Reach Samar
  • Anuj Mittal Managing Director

    Anuj leads chemicals, cements, logistics and industrial coverage for Axis Capital. He has 19 years of experience in investment banking in M&A advisory, capital markets and private equity financing. Anuj has previously worked with organizations like JM Financial, Edelweiss Capital and JP Morgan Chase. He has an MBA degree from IIM Kozhikode.

    Reach Anuj

Transaction Details for ION Energy Inc

  • ₹ 10,400 Mn

    IPO Dec 2021

    The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers

    Axis Capital acted as exclusive Financial Advisor to ION Energy Inc. – Axis Capital ran a global competitive process and reached out to potential acquirers from North America, Europe & Asia – Extended comprehensive transaction support to the client team ranging from deal conceptualisation & structuring, buyer outreach, negotiations, due diligence coordination and transaction documentation, besides assisting in overall transaction process management
  • ₹ 10,400 Mn

    IPO Dec 2021

    The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers

    Axis Capital acted as exclusive Financial Advisor to ION Energy Inc. – Axis Capital ran a global competitive process and reached out to potential acquirers from North America, Europe & Asia – Extended comprehensive transaction support to the client team ranging from deal conceptualisation & structuring, buyer outreach, negotiations, due diligence coordination and transaction documentation, besides assisting in overall transaction process management
  • ₹ 10,400 Mn

    IPO Dec 2021

    The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers

    Axis Capital acted as exclusive Financial Advisor to ION Energy Inc. – Axis Capital ran a global competitive process and reached out to potential acquirers from North America, Europe & Asia – Extended comprehensive transaction support to the client team ranging from deal conceptualisation & structuring, buyer outreach, negotiations, due diligence coordination and transaction documentation, besides assisting in overall transaction process management
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