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The company recently signed a concession agreement with the Indian Railways for operating container trains.

Mumbai March 13 Delhi Assam Roadways Corporation Ltd has raised Rs 45 crore through placement of equity with IDFC Private Equity, through IDFC Private Equity Fund 11.

Delhi Assam Roadways is a Full Truck Load (FTL) road transportation company in the country, said a news release. The company has an all-India presence and can mobilise over 1,000 trucks on a given day.

Its corporate clientele include the Jindal group, SAIL, BPCL, HPCL, ONGC, BHEL, GAIL, Reliance, Tata Group, Vedanta Group and the Aditya Birla Group, as well as defence establishments.

The company recently signed a concession agreement with the Indian Railways for operating container trains.

The money raised from IDFC Private Equity will be used to expand the road business and invest in the container train business. DARCL plans to turn itself into a large multimodal transportation company.

Mr Prakash Karnik, Executive Vice-President, IDFC Private Equity, said: "We have looked at the logistics industry for the past few years and this is our first investment in this sector."

Escorts Securities Ltd assisted with the transaction. IDFC PE is a private equity investor in infrastructure and manages funds of Rs 2,850 crore.

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