Infrastructure,Real Assets & Conglomerates

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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. 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

MAINly digital

₹ 500 Mn

xyz Nov 2025
Waaree Energies Ltd.

₹ 4,321 Mn

IPO Oct 2024
Waaree Energies Limited

₹ 43,210 Mn

IPO Oct 2024
Cube Highways Trust

₹ 21,072 Mn

InvIT - Follow On Sep 2024
India Grid Trust

₹ 17,919 Mn

InvIT - Follow On Aug 2024
Raymond GROoup

Undisclosed

Restructuring Jul 2024
Nxt Infra Invit

₹ 4,000 Mn

InvIT - Initial Private Placement Jul 2024
Bharat Highways Invit

₹ 25,000 Mn

InvIT - IPO Mar 2024
Anarock Prop Tech

₹ 2,000 Mn

Fund Raise Feb 2024
Seit(mahindra Group)

₹ 22,628 Mn

Fund Raise Jan 2024

Cube Highways Invit

₹ 21,070 Mn

Blocks Sep 2024
Keystone Realtors Ltd.

₹ 800 Mn

QIP May 2024
Awfis Space Solutions
Ltd.

₹ 653 Mn

IPO + Pre-IPO May 2024
Macrotech Developers Ltd
(lodha)

₹ 25,000 Mn

IPO Apr 2024
National Highways Infra
Trust

₹ 71,970 Mn

InvIT - Follow On Mar 2024
Apeejay Surrendra Park
Hotels Ltd.

₹ 920 Mn

IPO Feb 2024
Brookfield India Real
Estate Trust

₹ 75,795 Mn

REIT - Follow On Feb 2024
Techno Electric

₹ 125 Mn

Block Feb 2024
Sustainable Energy Infra
Trust

₹ 22,628 Mn

InvIT - Initial Private Placement Jan 2024
India Grid Trust

₹ 6,690 Mn

InvIT - Follow On Dec 2023
Intelligent Supply Chain
Infrastructure Trust

₹ 30,480 Mn

InvIT - Initial Private Placement Oct 2023
Jsw Infrastructure Ltd.

₹ 2,800 Mn

IPO Sep 2023
Signatureglobal (india)
Ltd.

₹ 730 Mn

IPO Sep 2023
Highways Infrastructure
Trust

₹ 5,150 Mn

InvIT - Follow On Sep 2023
Data Infrastructure Trust

₹ 22,094 Mn

InvIT - Follow On Sep 2023
India Grid Trust

₹ 4,040 Mn

InvIT - Follow On Sep 2023
India Grid Trust

₹ 22,990 Mn

InvIT - Buy-Side Advisory Sep 2023
Data Infrastructure Trust

₹ 20,708 Mn

InvIT - Follow On Aug 2023
Dlf

₹ 1,089 Mn

Block Aug 2023
Brookfield India Real
Estate Trust

₹ 23,050 Mn

REIT - Follow On Jul 2023
Indian Highways
Concession Trust

Undisclosed

InvIT - IPO Jun 2023
Brookfield India Real
Estate Trust

₹ 113,754 Mn

REIT - Fairness Opinion May 2023
Nexus Select Trust

₹ 32,000 Mn

REIT - IPO May 2023
Embassy Office Parks Reit

₹ 3,348 Mn

REIT - Advisory Mar 2023
Keystone Realtors Ltd.

₹ 635 Mn

IPO Nov 2022
Anzen India Energy Yield
Plus Trust

₹ 7,500 Mn

InvIT - Initial Private Placement Nov 2022
Keystone Realtors Pvt.
Ltd.

₹ 6,350 Mn

IPO Nov 2022
Anzen India Energy Yield
Plus Trust

₹ 7,500 Mn

InvIT Private Placement Nov 2022
Gr Infraprojects Ltd.

₹ 855 Mn

OFS(SE) Sep 2022
Highways Infrastructure
Trust

₹ 4,160 Mn

InvIT - Initial Private Placement Aug 2022
Rustomjee

₹ 1,700 Mn

Fund Raise May 2022
Jsw Steel Limited

₹ 15,556 Mn

M&A May 2022
Ion Energy Inc

₹ 3,080 Mn

M&A May 2022
Ion Energy Inc.

₹ 3,080 Mn

M&A May 2022
Indiabulls Real Estate
Ltd.

₹ 865 Mn

QIP Apr 2022
Shriram Properties Ltd

₹ 600 Mn

IPO Dec 2021
Borosil Renewables Ltd.

₹ 2,000 Mn

QIP, PIPE Dec 2021
Tega Industries Limited

₹ 6,190 Mn

IPO Nov 2021
Aditya Birla Sunlife Amc
Ltd

₹ 2,768 Mn

IPO Sep 2021
Virescent

₹ 4,600 Mn

Fund Raise Sep 2021
Embassy Office Parks Reit

₹ 20,250 Mn

REIT - Follow On Sep 2021
Virescent Renewable
Energy Trust

₹ 4,600 Mn

InvIT - Initial Private Placement Sep 2021
Virescent Renewable
Energy Trust

₹ 4,600 Mn

InvIT Private Placement Sep 2021
Virescent Renewable
Energy Trust

₹ 4,600 Mn

InvIT Private Placement Sep 2021
Embassy Office Parks Reit

₹ 20,240 Mn

Blocks Sep 2021
Embassy Office Parks Reit

₹ 2,025 Mn

Block Sep 2021
Nuvoco Vistas

₹ 50,000 Mn

IPO Aug 2021
Brigade Enterprises Ltd

₹ 500 Mn

QIP Jun 2021
Brigade Enterprises
Limited

₹ 5,000 Mn

QIP Jun 2021
Shyam Metalics And Energy
Limited

₹ 9,090 Mn

IPO Jun 2021
Pg Invit

₹ 77,350 Mn

InvIT - IPO May 2021
Dilip Buildcon Ltd

₹ 510 Mn

QIP Apr 2021
Macrotech Developers Ltd

₹ 2,500 Mn

IPO Apr 2021
India Grid Trust

₹ 12,836 Mn

InvIT - Follow On Apr 2021
India Grid Trust
(indigrid)

₹ 12,840 Mn

Rights Issue / Advisory / QIP Apr 2021
Powergrid Infrastructure
Investment Trust

₹ 77,350 Mn

M&A, InvIT Private Placement Apr 2021
Macrotech Developers
Limited

₹ 25,000 Mn

IPO Apr 2021
Godrej Properties Ltd

₹ 37,500 Mn

IPO Mar 2021
Craftsman Automation

₹ 8,240 Mn

IPO Mar 2021
Godrej Properties Limited

₹ 37,500 Mn

QIP Mar 2021
Brookfield India Real
Estate Trust

₹ 38,000 Mn

REIT - IPO Feb 2021
Embassy Office Parks Reit

₹ 36,852 Mn

REIT - Follow On Dec 2020
India Grid Trust

Undisclosed

InvIT - Advisory Sep 2020
Mindspace Business Parks
Reit

₹ 45,000 Mn

REIT - IPO Jul 2020
Gmr

₹ 35,300 Mn

M&A Aug 2019
Gmr Group

₹ 35,300 Mn

M&A Aug 2019
India Grid Trust

₹ 25,140 Mn

InvIT - Follow On Apr 2019
Larsen & Toubro

₹ 97,600 Mn

M&A Mar 2019
Embassy Office Parks Reit

₹ 47,500 Mn

REIT - IPO Mar 2019
Indinfravit Trust

₹ 8,380 Mn

InvIT - Sell-side Advisory Feb 2019

Axis Capital’s infrastructure practice is led by

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Suraj Krishnaswamy Managing Director - Infrastructure and Conglomerates
Suraj heads Axis Capital’s industry coverage for TMT & Infrastructure. He also handles several key conglomerate relationships for Axis Capital. Based in Mumbai, he has been an integral part of Axis Capital/ENAM with nearly 2 decades of experience across M&A advisory, Equity Capital Markets, PE Adv...

Show More Reach Suraj Krishnaswamy
Anuj Mittal Managing Director - Real Estate & Logistics
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...

Show More Reach Anuj Mittal

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