MTandT Rentals raises Rs 100 Cr from ValueQuest S.C.A.L.E Fund II
The funding will be used by MTandT Rentals to expand its equipment fleet and presence in the country
MTandT Rentals Limited (MRL), a provider of specialised industrial equipment, has raised Rs 100 crore from ValueQuest S.C.A.L.E. Fund II, marking its first institutional fund raise.
The Chennai-headquartered firm provides aerial work platforms and ground protection access solutions. It will use the funding to expand its equipment fleet and presence. According to this company, the funding will enable it to service large and complex projects with higher asset utilisation, faster turnaround times, and enhanced operational efficiency.
MRL Chairman Rakesh Modi said, “This investment will enable us to expand our fleet, enhance service capabilities, and strengthen our position as a trusted partner for safety and productivity in infrastructure and industrial projects.”
MRL provides specialised equipment including aerial work platforms such as boom lifts, scissor lifts, and spider lifts; and ground protection access solutions such as PortaDeck composite mats. It also offers equipment maintenance, operator training and technical support.
Pushkar Jauhari, Managing Director and Fund Manager, ValueQuest Private Equity, said, “They (MRL) have time-tested client relationships with established business houses and have built a strong reputation in India’s equipment rental industry through focus on safety, reliability and customer-centricity.”
MRL says it is well-positioned to benefit from increasing demand across sectors such as airports, renewable energy, semiconductors, metro rail, data centres, warehousing, and large industrial facilities. It claims to have recorded a compounded annual growth rate of over 48% between FY21 and FY25.
ValueQuest Investment Advisors is a Mumbai-based investment management firm. The group manages assets worth $2.8 billion.