Axis Capital executes this novel investment instrument across asset classes and has several firsts to its credit – evidence of its agility in forging solutions for a changing landscape. Axis Capital is the dominant banker in this space, having executed the highest number of related deals.

Early Architect of New Instrument
Axis Capital has been India’s #1 InvIT/REIT Banker since 2017. We have consistently been the preferred banker of choice for all Global Infra Funds, large conglomerates, IPP/EPC players and real estate Developers. Axis Capital has been instrumental in mapping the contours of the new InvITs/REITs space over the past 7 years. We have led from the front in developing the very features of the instrument and in liaising with intermediaries
- Educated varied investor classes about the product
- Most active banker on the street in the InvIT space
- Led more than 90% of India’s transactions in InvITs/REITs.
Unmatched Expertise
Axis Capital plays an active role in deals across infrastructure asset classes including Roads, Renewable Energy, Warehousing, Telecom and Digital Infrastructure and Electricity Transmission. Axis Capital has consistently proven its REIT leadership, being the banker to all the REIT transactions that have taken place in Indian markets.
- The only banker in India to lead the 1st InvIT QIP, 1st InvIT Rights Issue, 1st REIT IPO, 1st REIT QIP, 1st InvIT M&A, 1st InvIT OFS, and been an advisor to the 1st InvIT sponsor change process
- Rare all-round capability with in-depth product understanding, best-in-class regulatory oversight, and unparalleled marketing capabilities.


Structured Finance Advisory
Axis Capital’s Structured Finance Advisory offering is based on its strong Investment Banking capabilities. Till date we have advised on more than USD 1bn worth of deals for various corporates & promoters in India through a wide variety of innovative structures across sectors.
The team specialises in providing bespoke fund raising solutions in a wide range of situations viz: Promoter Financing, Acquisition Financing, Bridge to an Equity event, Inventory based financing. The structures help clients for fund-raising through customized solutions as per their requirements. Our unprecedented placement record is backed by strong domestic as well as international investor relationships and in-depth understanding of capital markets. Over the years, we have provided innovative structures to companies across diverse sectors like Pharma, Real Estate, Engineering, Media, Agro-Chemical etc.
Transactions
ECM
-
₹ 64,376 Mn
QIP Sep 2024
-
Undisclosed
ECM Advisory Jan 2025
-
₹ 12,500 Mn
IPO Dec 2024
-
₹ 53,345 Mn
OFS(SE) Nov 2024
-
₹ 4,000 Mn
QIP Oct 2024
-
₹ 20,109 Mn
OFS(SE) Oct 2024
-
₹ 43,210 Mn
IPO Oct 2024
-
₹ 7,770 Mn
IPO Sep 2024
-
₹ 64,376 Mn
QIP Sep 2024
-
Undisclosed
ECM Advisory Jan 2025
-
₹ 12,500 Mn
IPO Dec 2024
-
₹ 53,345 Mn
OFS(SE) Nov 2024
-
₹ 4,000 Mn
QIP Oct 2024
-
₹ 20,109 Mn
OFS(SE) Oct 2024
-
₹ 43,210 Mn
IPO Oct 2024
-
₹ 7,770 Mn
IPO Sep 2024
-
₹ 64,376 Mn
QIP Sep 2024
-
₹ 65,600 Mn
IPO Sep 2024
-
₹ 8,347 Mn
IPO + Pre-IPO Aug 2024
-
₹ 6,003 Mn
IPO Aug 2024
-
₹ 29,978 Mn
Rights Issue Aug 2024
-
₹ 61,456 Mn
IPO Aug 2024
-
₹ 8,790 Mn
Block Aug 2024
-
₹ 4,870 Mn
Block Aug 2024
-
₹ 18,567 Mn
IPO Jul 2024
-
₹ 19,520 Mn
IPO Jul 2024
-
₹ 5,370 Mn
IPO Jun 2024
-
₹ 12,000 Mn
QIP Jun 2024
-
₹ 9,160 Mn
IPO + Pre-IPO Jun 2024
-
₹ 9,900 Mn
Block Jun 2024
-
₹ 7,650 Mn
Block Jun 2024
-
₹ 910 Mn
Block Jun 2024
-
₹ 2,000 Mn
Block Jun 2024
-
₹ 1,710 Mn
Block Jun 2024
-
₹ 3,230 Mn
Block Jun 2024
-
₹ 8,190 Mn
Block Jun 2024
-
₹ 6,530 Mn
IPO + Pre-IPO May 2024
-
₹ 8,000 Mn
QIP May 2024
-
₹ 26,147 Mn
IPO May 2024
-
₹ 15,508 Mn
IPO + Pre-IPO May 2024
-
₹ 42,750 Mn
IPO Apr 2024
-
₹ 180,000 Mn
FPO Apr 2024
-
₹ 6,500 Mn
IPO Mar 2024
-
₹ 5,700 Mn
IPO Feb 2024
-
₹ 9,200 Mn
IPO Feb 2024
-
₹ 1,250 Mn
Block Feb 2024
-
₹ 6,401 Mn
IPO Jan 2024
-
₹ 39,998 Mn
Rights Issue Jan 2024
-
₹ 11,716 Mn
IPO Jan 2024
-
₹ 2,500 Mn
Preferential Issue Jan 2024
-
₹ 7,400 Mn
IPO Dec 2023
-
₹ 10,086 Mn
IPO Dec 2023
-
₹ 9,600 Mn
IPO Dec 2023
-
₹ 14,000 Mn
QIP Dec 2023
-
₹ 14,593 Mn
IPO Dec 2023
-
₹ 40,000 Mn
QIP Dec 2023
-
₹ 5,310 Mn
Block Dec 2023
-
₹ 2,520 Mn
Block Dec 2023
-
₹ 3,220 Mn
Block Dec 2023
-
₹ 83,010 Mn
Block Dec 2023
-
₹ 4,034 Mn
QIP Nov 2023
-
₹ 5,930 Mn
IPO Nov 2023
-
₹ 6,000 Mn
QIP Nov 2023
-
₹ 8,339 Mn
IPO Nov 2023
-
₹ 5,740 Mn
Block Nov 2023
-
Undisclosed
ECM Advisory Nov 2023
-
₹ 28,000 Mn
IPO Sep 2023
-
₹ 7,300 Mn
IPO Sep 2023
-
₹ 10,000 Mn
QIP Sep 2023
-
₹ 19,640 Mn
IPO Sep 2023
-
₹ 1,140 Mn
Block Sep 2023
-
₹ 4,100 Mn
Preferential Issue Sep 2023
-
₹ 1,570 Mn
Block Sep 2023
-
₹ 8,800 Mn
IPO Aug 2023
-
₹ 10,250 Mn
IPO Aug 2023
-
₹ 8,240 Mn
Block Aug 2023
-
₹ 4,460 Mn
Block Aug 2023
-
₹ 3,330 Mn
Block Aug 2023
-
₹ 1,750 Mn
Block Aug 2023
-
₹ 10,890 Mn
Block Aug 2023
-
₹ 30,400 Mn
QIP Jul 2023
-
₹ 5,000 Mn
QIP Jul 2023
-
₹ 5,920 Mn
IPO + Pre-IPO Jun 2023
-
₹ 17,500 Mn
QIP Jun 2023
-
₹ 41,785 Mn
OFS(SE) Jun 2023
-
₹ 2,470 Mn
Block Jun 2023
-
₹ 2,060 Mn
Block Jun 2023
-
₹ 28,827 Mn
OFS(SE) May 2023
-
₹ 43,264 Mn
IPO Apr 2023
-
₹ 24,938 Mn
Rights Issue Apr 2023
-
₹ 1,370 Mn
Block Apr 2023
-
₹ 10,230 Mn
Block Mar 2023
-
₹ 8,000 Mn
Block Mar 2023
-
₹ 3,800 Mn
Block Mar 2023
-
₹ 4,750 Mn
IPO Dec 2022
-
₹ 3,011 Mn
Rights Issue Dec 2022
-
₹ 27,200 Mn
OFS(SE) Dec 2022
-
₹ 5,520 Mn
IPO Dec 2022
-
₹ 13,090 Mn
Block Dec 2022
-
₹ 8,500 Mn
Buyback Dec 2022
-
₹ 8,356 Mn
IPO Nov 2022
-
₹ 6,350 Mn
IPO Nov 2022
-
₹ 8,809 Mn
IPO Nov 2022
-
₹ 5,000 Mn
IPO Oct 2022
-
₹ 5,000 Mn
QIP Sep 2022
-
₹ 8,548 Mn
OFS(SE) Sep 2022
-
₹ 7,550 Mn
IPO Sep 2022
-
₹ 8,078 Mn
IPO Sep 2022
-
₹ 3,150 Mn
Block Sep 2022
-
₹ 2,700 Mn
Block Sep 2022
-
₹ 2,030 Mn
Block Sep 2022
-
₹ 15,017 Mn
IPO May 2022
-
₹ 4,283 Mn
IPO May 2022
-
₹ 205,572 Mn
IPO May 2022
-
₹ 8,650 Mn
QIP Apr 2022
-
₹ 31,490 Mn
IPO Feb 2022
-
₹ 2,250 Mn
Preferential Issue Jan 2022
-
₹ 11,000 Mn
IPO Dec 2021
-
₹ 7,000 Mn
IPO Dec 2021
-
₹ 13,980 Mn
IPO Dec 2021
-
₹ 13,680 Mn
IPO Dec 2021
-
₹ 10,390 Mn
IPO Dec 2021
-
₹ 6,000 Mn
IPO Dec 2021
-
₹ 6,190 Mn
IPO Dec 2021
-
₹ 60,190 Mn
IPO Nov 2021
-
₹ 6,000 Mn
IPO Nov 2021
-
₹ 183,000 Mn
IPO Nov 2021
-
₹ 8,670 Mn
QIP Nov 2021
-
₹ 8,000 Mn
IPO Nov 2021
-
₹ 209,874 Mn
Rights Issue Nov 2021
-
₹ 12,000 Mn
IPO Oct 2021
-
₹ 2,150 Mn
Buyback Oct 2021
-
₹ 27,680 Mn
IPO Sep 2021
-
₹ 6,700 Mn
IPO Sep 2021
-
₹ 20,250 Mn
Block Sep 2021
-
₹ 25,000 Mn
QIP Aug 2021
-
₹ 38,500 Mn
IPO Aug 2021
-
₹ 29,990 Mn
IPO Aug 2021
-
₹ 50,000 Mn
IPO Aug 2021
-
₹ 5,700 Mn
Preferential Issue Aug 2021
-
₹ 15,470 Mn
IPO Jul 2021
-
₹ 8,000 Mn
IPO Jun 2021
-
₹ 5,000 Mn
QIP Jun 2021
-
₹ 5,200 Mn
IPO Jun 2021
-
₹ 21,440 Mn
IPO Jun 2021
-
₹ 3,520 Mn
OFS Jun 2021
-
₹ 9,090 Mn
IPO Jun 2021
-
₹ 3,000 Mn
QIP Jun 2021
-
₹ 20,000 Mn
QIP Jun 2021
-
₹ 18,000 Mn
QIP May 2021
-
₹ 6,000 Mn
QIP Apr 2021
-
₹ 4,420 Mn
OFS Apr 2021
-
₹ 5,100 Mn
QIP Apr 2021
-
₹ 25,000 Mn
IPO Apr 2021
-
₹ 3,000 Mn
Preferential Issue Apr 2021
-
₹ 37,500 Mn
QIP Mar 2021
-
₹ 5,100 Mn
IPO Mar 2021
-
₹ 6,000 Mn
IPO Mar 2021
-
₹ 8,240 Mn
IPO Mar 2021
-
₹ 45,000 Mn
QIP Feb 2021
-
₹ 2,992 Mn
Rights Issue Dec 2020
-
₹ 6,750 Mn
Block Nov 2020
-
₹ 9,951 Mn
Rights Issue Jul 2020
-
₹ 144,000 Mn
QIP Jan 2020
-
₹ 249,390 Mn
Rights Issue May 2019
-
₹ 21,824 Mn
M&A May 2023
-
Undisclosed
M&A Sep 2024
-
Undisclosed
Restructuring Jul 2024
-
Undisclosed
Restructuring May 2024
-
Undisclosed
Restructuring Feb 2024
-
Undisclosed
M&A Jul 2023
-
Undisclosed
Fairness Opinion Jul 2023
-
Undisclosed
Fairness Opinion Jul 2023
-
₹ 21,824 Mn
M&A May 2023
-
Undisclosed
M&A Sep 2024
-
Undisclosed
Restructuring Jul 2024
-
Undisclosed
Restructuring May 2024
-
Undisclosed
Restructuring Feb 2024
-
Undisclosed
M&A Jul 2023
-
Undisclosed
Fairness Opinion Jul 2023
-
Undisclosed
Fairness Opinion Jul 2023
-
₹ 21,824 Mn
M&A May 2023
-
₹ 3,440 Mn
Transaction Advisory & Fairness Opinion Aug 2022
-
₹ 15,556 Mn
Restructuring May 2022
-
₹ 3,080 Mn
M&A May 2022
-
₹ 67,076 Mn
Fairness Opinion Mar 2022
-
₹ 123,250 Mn
M&A Mar 2022
-
₹ 36,800 Mn
PE Buy out Mar 2022
-
₹ 908 Mn
M&A Mar 2021
-
₹ 75,000 Mn
PE Buy out Dec 2020
-
Undisclosed
Restructuring Jul 2020
-
Undisclosed
M&A Apr 2020
-
₹ 35,300 Mn
M&A Aug 2019
-
₹ 3,982 Mn
M&A Apr 2019
-
₹ 97,600 Mn
M&A Mar 2019
-
₹ 9,100 Mn
PE Buy out Mar 2019
-
₹ 22,628 Mn
InvIT - Initial Private Placement Jan 2024
-
₹ 83,400 Mn
InvIT Fund Raise Apr 2025
-
₹ 21,072 Mn
InvIT - Follow On Sep 2024
-
₹ 17,919 Mn
InvIT - Follow On Aug 2024
-
₹ 4,000 Mn
InvIT - Initial Private Placement Jul 2024
-
₹ 25,000 Mn
InvIT - IPO Mar 2024
-
₹ 71,970 Mn
InvIT - Follow On Mar 2024
-
₹ 75,795 Mn
REIT - Follow On Feb 2024
-
₹ 22,628 Mn
InvIT - Initial Private Placement Jan 2024
-
₹ 83,400 Mn
InvIT Fund Raise Apr 2025
-
₹ 21,072 Mn
InvIT - Follow On Sep 2024
-
₹ 17,919 Mn
InvIT - Follow On Aug 2024
-
₹ 4,000 Mn
InvIT - Initial Private Placement Jul 2024
-
₹ 25,000 Mn
InvIT - IPO Mar 2024
-
₹ 71,970 Mn
InvIT - Follow On Mar 2024
-
₹ 75,795 Mn
REIT - Follow On Feb 2024
-
₹ 22,628 Mn
InvIT - Initial Private Placement Jan 2024
-
₹ 6,690 Mn
InvIT - Follow On Dec 2023
-
₹ 30,480 Mn
InvIT - Initial Private Placement Oct 2023
-
₹ 22,990 Mn
InvIT - Buy-Side Advisory Sep 2023
-
₹ 4,040 Mn
InvIT - Follow On Sep 2023
-
₹ 22,094 Mn
InvIT - Follow On Sep 2023
-
₹ 5,150 Mn
InvIT - Follow On Sep 2023
-
₹ 20,708 Mn
InvIT - Follow On Aug 2023
-
₹ 23,050 Mn
REIT - Follow On Jul 2023
-
Undisclosed
InvIT - IPO Jun 2023
-
₹ 32,000 Mn
REIT - IPO May 2023
-
₹ 113,754 Mn
REIT - Fairness Opinion May 2023
-
₹ 3,348 Mn
REIT - Advisory Mar 2023
-
₹ 7,500 Mn
InvIT - Initial Private Placement Nov 2022
-
₹ 4,160 Mn
InvIT - Initial Private Placement Aug 2022
-
₹ 4,600 Mn
InvIT - Initial Private Placement Sep 2021
-
₹ 20,250 Mn
REIT - Follow On Sep 2021
-
₹ 77,350 Mn
InvIT - IPO May 2021
-
₹ 12,836 Mn
InvIT - Follow On Apr 2021
-
₹ 38,000 Mn
REIT - IPO Feb 2021
-
₹ 36,852 Mn
REIT - Follow On Dec 2020
-
Undisclosed
InvIT - Advisory Sep 2020
-
₹ 45,000 Mn
REIT - IPO Jul 2020
-
₹ 25,140 Mn
InvIT - Follow On Apr 2019
-
₹ 47,500 Mn
REIT - IPO Mar 2019
-
₹ 8,380 Mn
InvIT - Sell-side Advisory Feb 2019
-
₹ 18,000 Mn
Fund Raise Apr 2022
-
₹ 2,000 Mn
Fund Raise Aug 2024
-
₹ 2,000 Mn
Fund Raise Feb 2024
-
₹ 22,628 Mn
Fund Raise Jan 2024
-
₹ 22,094 Mn
Fund Raise Sep 2023
-
₹ 5,000 Mn
Fund Raise Nov 2022
-
₹ 1,000 Mn
Fund Raise Jun 2022
-
₹ 1,700 Mn
Fund Raise May 2022
-
₹ 18,000 Mn
Fund Raise Apr 2022
-
₹ 2,000 Mn
Fund Raise Aug 2024
-
₹ 2,000 Mn
Fund Raise Feb 2024
-
₹ 22,628 Mn
Fund Raise Jan 2024
-
₹ 22,094 Mn
Fund Raise Sep 2023
-
₹ 5,000 Mn
Fund Raise Nov 2022
-
₹ 1,000 Mn
Fund Raise Jun 2022
-
₹ 1,700 Mn
Fund Raise May 2022
-
₹ 18,000 Mn
Fund Raise Apr 2022
-
₹ 5,500 Mn
Fund Raise Dec 2021
-
₹ 4,600 Mn
Fund Raise Sep 2021
-
₹ 5,570 Mn
Fund Raise Aug 2021
-
₹ 2,000 Mn
Fund Raise May 2021
Axis Capital’s InvITs-REITs-SF practice is led by
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Suraj Krishnaswamy Managing Director
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...
-
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...
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