The main drawbacks of conventional direct torque control (DTC) drives are erratic switching frequency and high torque ripples. The multilevel inverter fed DTC drives are proved to be an alternative for eliminating these drawbacks. Apart from the commonly used three-level inverter fed drives, this paper presents an even-level inverter fed DTC drive. In this paper, a space vector modulated DTC algorithm for a four-level DTC drive is proposed and is implemented by feeding both ends of an open-end-winding induction motor with two-level inverters. The space vector modulation (SVM) algorithm uses a fractal based design for switching voltage vector generation and allied computations are performed in 60 degree co-ordinate system. Representation of vectors as integer values in 60 degree co-ordinate planes avoids fractional arithmetic, which simplifies the algorithmic computations. Detailed analyses of the drive performance under dissimilar operating modes are presented. The loading performance of the drive is experimentally verified on a 5-HP induction motor with a strain gauge type mechanical loading system. No-load experimental results were obtained from a laboratory model 2-HP induction motor drive operated in closed loop mode.