A firm set up by the Axis Bank, Axis Private Equity (Axis PE) has recently declared that it will make two significant investments in the sectors of hospitality and oil and gas. It was thereafter informed that Axis PE has invested Rs 75 crore in Neesa Leisure Ltd and Rs 67 crore in Corrtech International Pvt Ltd. The Neesa Leisure Ltd. uses the ‘Cambay’ brand to build and run hotels and resorts. It presently operates three properties and has set a target of a total of eight properties in the coming three years in five Indian cities. This will up the room inventory by five fold to 1,000 rooms in the mentioned time span.

The Corrtech International Pvt Ltd, on the other hand, deals with various high growth business sectors associated with oil and gas transportation infrastructure as well as repairs and services of gas turbines. It has got a 30 per cent market share in providing corrosion protection solutions with main eye on oil and gas pipelines. However, of late Corrtech has also took up laying of oil and gas pipelines, maintenance of gas turbine, gas skids installation and setting up city gas distribution networks. This company has bagged revenues of more than Rs 150 Crore for the financial year 2008.