MTandT Rentals Limited (MRL), a Chennai-based provider of specialized industrial equipment, has raised Rs 100 crore in its first institutional funding round from ValueQuest S.C.A.L.E. Fund II. The company plans to use the funds to expand its equipment fleet and enhance its service capabilities.
Details
The funding round, which marks MRL’s first institutional capital raise, will be utilized to increase the company’s equipment fleet and expand its presence across India. MRL Chairman Rakesh Modi stated that the investment will enable the company to service large and complex projects with higher asset utilization, faster turnaround times, and enhanced operational efficiency.
Company Context
MTandT Rentals Limited, headquartered in Chennai, provides aerial work platforms and ground protection access solutions. The company offers specialized equipment such as boom lifts, scissor lifts, spider lifts, and PortaDeck composite mats, along with equipment maintenance, operator training, and technical support.
Industry Context
The funding comes at a time when MRL is well-positioned to benefit from increasing demand across sectors like airports, renewable energy, semiconductors, metro rail, data centers, warehousing, and large industrial facilities. The company claims to have recorded a compounded annual growth rate of over 48% between FY21 and FY25.
Investor Background
ValueQuest Investment Advisors, the Mumbai-based investment management firm leading the funding round, manages assets worth $2.8 billion. Pushkar Jauhari, Managing Director and Fund Manager at ValueQuest Private Equity, highlighted MRL’s strong reputation in India’s equipment rental industry, built through a focus on safety, reliability, and customer-centricity.
Source: YourStory