Chennai-based MTandT Leases Restricted (MRL), which supplies aerial work platforms and floor entry options, stated it has raised Rs 100 crore in funding from ValueQuest S.C.A.L.E. Fund II.

The funding follows earlier capital infusions, together with about Rs 62 crore raised by way of personal placements in 2024-25, alongside a beforehand introduced Rs 150 crore strategic funding for a 20% stake within the firm.

The corporate stated the funds would assist its subsequent section of progress, together with increasing its gear fleet and strengthening its presence throughout India.

MRL provides specialised gear utilized in infrastructure, industrial and development initiatives, together with growth lifts, scissor lifts and spider lifts, in addition to floor safety programs akin to PortaDeck composite mats. It additionally gives upkeep, operator coaching and technical assist providers.

It plans to make use of the funding to deal with bigger and extra advanced initiatives, with a concentrate on enhancing asset utilisation, decreasing turnaround instances and enhancing operational effectivity.

Rakesh Modi, chairman of MRL, stated the partnership would assist the corporate scale its operations. “We’re delighted to associate with ValueQuest as MRL enters its subsequent section of progress. This funding will allow us to develop our fleet, improve service capabilities, and strengthen our place as a trusted associate for security and productiveness in infrastructure and industrial initiatives,” he stated.

Pushkar Jauhari, managing director and fund supervisor at ValueQuest Non-public Fairness, stated the agency noticed robust progress potential within the sector. “MRL supplies aerial work platforms that are enabling sooner turnaround instances with enhanced employee security for our main infrastructure and industrial initiatives,” he stated.

“They’ve time-tested consumer relationships with established enterprise homes and have constructed a powerful repute in India’s gear rental business by way of its concentrate on security, reliability and customer-centricity. India is ranging from a low base on AWPs and we’re excited to assist the corporate in scaling its operations and capturing the numerous progress alternative on this sector.”