Based out of Pune, Maharashtra, DTL supplies roll formed parts and fabrications to the Indian railways and the country’s automotive sector. The business has grown by more than 30 per cent annually over the past five years.
IIGF has committed to invest a total of $9m in the company in two tranches. The first tranche of investment has been completed.
“It has been a pleasure working with the DTL Team in the run up to this investment – and I look forward to working very closely with the company over the next few years, as well,” said Supratim Basu, a director at Frontline Venture Services.
“DTL is virtually the perfect blend of risk-adjusted, growth investment that we seek in the manufacturing space in India, and I am very happy to be part of their journey going forward.”
Founded in 2000, Frontline Strategy says it is one of India’s oldest independent private equity advisory firms. The company currently has two funds under management, Strategic Ventures Fund and India Industrial Growth Fund, both based in Mauritius.
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