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MTandT Rentals raises Rs 100 Cr from ValueQuest S.C.A.L.E. Fund II

EntrackrEntrackr · 7d ago
MTandT Rentals raises Rs 100 Cr from ValueQuest S.C.A.L.E. Fund II
Medial

MTandT Rentals raises Rs 100 Cr from ValueQuest S.C.A.L.E. Fund II MTandT Rentals, a provider of aerial work platforms and ground protection access solutions, has raised Rs 100 crore from ValueQuest S.C.A.L.E. Fund II. The Chennai-based company had earlier raised Rs 62 crore from early-stage investors and family offices. This marks its first private equity or institutional funding. The fresh funds will be used to support the next phase of growth and expansion across India, the company said in a press release. Led by Rakesh Modi, MTandT Rentals provides equipment solutions for infrastructure, industrial, and construction sectors, focusing on safety, reliability, and operational efficiency. Its offerings include aerial work platforms such as boom lifts, scissor lifts, and spider lifts, along with ground protection access solutions like PortaDeck composite mats. It also provides services such as equipment maintenance, operator training, and technical support. The company plans to use the funds to service large and complex projects with higher asset utilization, faster turnaround times, and improved operational efficiency. It is also positioned to benefit from rising demand across sectors such as airports, renewable energy, semiconductors, metro rail, data centers, warehousing, and large industrial facilities. MTandT Rentals reported a CAGR of over 48 percent during FY21 to FY25.

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PE fund ValueQuest raises Rs 1,500 Cr from domestic LPs

EntrackrEntrackr · 1m ago
PE fund ValueQuest raises Rs 1,500 Cr from domestic LPs
Medial

ValueQuest Investment Advisors has raised a Rs 1,500-crore private equity (PE) fund focused on advanced manufacturing sectors such as aerospace, defence, and energy transition. ValueQuest Tristar, a 100% rupee-denominated fund, has surpassed its target size of Rs 1,500 crore and activated a greenshoe option of Rs 500 crore. The fund aims to close the fundraising within the current calendar year. According to the Mumbai-based firm, the fund plans to back 8–12 companies with cheque sizes ranging from Rs 150 crore to Rs 400 crore and expects to complete capital deployment within 18–24 months. It will focus on businesses with proven product-market fit, positive unit economics, and established customer relationships. ValueQuest said this is the right time to deploy capital in advanced manufacturing sectors, noting that several companies in the space are also tapping the IPO market. The fund has already invested in Rangsons Aerospace, a precision manufacturing company serving marquee domestic and global aerospace and defence clients. It has also backed Waaree Energy Storage Solutions, which manufactures lithium-ion cells, battery packs, and energy storage systems for Indian and international markets. In defence investing, the fund has been an early investor in defence public sector undertakings such as Mazagon Dock, Cochin Shipyard, HAL, BEL, and Garden Reach, even before policy momentum built in favour of the sector.

Neo Asset Management announces fund II at Rs 2,000 Cr

EntrackrEntrackr · 12m ago
Neo Asset Management announces fund II at Rs 2,000 Cr
Medial

Neo Asset Management, a seasoned Alternative Asset Management firm in India, has announced the first close of its second flagship private credit fund - the Neo Special Credit Opportunities Fund-II (NSCOF II), at Rs 2,000 crore as on date including the first closing as filed with SEBI. Launched 3 months ago, the fund is targeting a total corpus of Rs 5,000 crore. The fund witnessed interest from Family Offices, Ultra High Net Worth Individuals (UHNIs) and Institutional Investors alike to make Neo’s journey an alternative investment platform focused on Private Credit and Real Assets. NSCOF-II is a SEBI-registered Category II AIF designed to provide bespoke credit solutions to EBITDA positive companies. As a strategy, all investments are fully covered with at least 2-3 times hard asset collateral and bear regular coupons. Neo Asset Management aims to adhere to its fund strategy and deliver returns. It looks forward to deploying capital efficiently in Fund-II. Its objective is to create a well-diversified portfolio with 25-30 investments, each ranging between Rs 150-300 crore. Neo’s first private credit, Neo Special Credit Opportunities Fund-I, closed in June 2024, raising Rs 2,575 crore. This fund has gross deployed 100% of its capital across 23 carefully curated diversified investments and have exited from 7 of these investments, over the past 18 months. The team has evaluated more than 450 investments in the last two years. Neo Group is a new-age wealth and asset management company, backed by Peak XV Partners, MUFG Bank, and Euclidean Capital and committed to building India’s leading Alternatives Asset Management platform. Neo Asset Management, the India-focused Alternative Asset Management arm of the Neo Group, manages more than Rs 10,000 crore of AUM, investing across various asset classes and delivering returns with stable cashflows.

Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt

EntrackrEntrackr · 1y ago
Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt
Medial

Cleantech startup Hygenco has raised Rs 50 crore (approximately $6 million) via non-convertible debentures from Trifecta. This is the first debt investment for the Gurugram-based company this year. The board at Hygenco has passed a special resolution to issue 500 debentures at an issue price of Rs 1,00,000 each to raise Rs 50 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned dentures are issued for a tenure of 24 months and carry an interest rate of 14.5% per annum, the filing added. Hygenco specializes in developing and deploying commercial systems for green hydrogen and ammonia production. Its solutions cater to large-scale process industries, marine and terrestrial transportation, and personal mobility sectors. Hygenco secured its first investment of $25 million from the SBI through (Neev II Fund) in October 2022. Media reports suggest the company aims to raise a total of $100 million by the end of this year. The company also partnered with Jindal Stainless to set up the country's first green hydrogen plant. According to startup data intelligence platform TheKredible, SBI, through its Neev II Fund, holds a 49.6% stake in Hygenco. The company's co-founders—Amit Bansal, Anshual Gupta, and Aashish Gupta—collectively own 46.1% of the company. The company was in the pre-revenue stage till the financial year ended March 2023 with a loss of Rs 6.3 crore. Hygenco has yet to file annual results for the previous fiscal year (FY24).

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