India Industrial Growth Fund (Mauritius), a private equity fund has acquired a 26 percent stake in in DTL Ancillaries for Rs. 25 crore ($5 million) and has an option to invest further up to Rs. 20 crore ($4 million)..J. Sagar Associates advised IIGF with a team led by Partners Upendra N. Sharma and Sidharrth Shankar along with Senior Associate Pallavi Puri and Associate Mudita Roy..DSK Legal advised DTL Ancillaries with a team led by Partner Raksha Kothari..The Pune-based DTL makes key hardware components for the Indian Railways, Tata Motors, Arcellor Mittal and Italian auto company Piaggio..IIGF, which is part of $75 million fund managed by Mauritius-based investment advisory firm Frontline Strategy aims to invest in India’s fast growing small and medium enterprises, reports ET..Follow Bar and Bench channel on WhatsAppDownload the Bar and Bench Mobile app for instant access to the latest legal news.
