Chanakya Fund Backs Polite Powertech in Rs 20 Crore Pre-IPO Round
Date: August 6, 2025
- Chanakya Opportunities Fund I leads investment with over 15% stake in the round.
- Polite Powertech specializes in turnkey EPC projects and has laid 4,000+ km of transmission lines.
- Investment supports national initiatives like RDSS, GEC-II, and Gujarat’s Rs 1 lakh crore power infra plan.
Chanakya Opportunities Fund I India's first SME-Exchange centered Alternative Investment Fund (AIF) under Steptrade Capital has made a strategic investment in Gujarat-based Polite Powertech, which deals in power transmission and distribution.
The fund has invested in a Rs 20 crore pre-IPO funding round, putting in more than 15% of the overall raised capital. This investment marks Chanakya's ongoing commitment to investing in high-impact, growth-driven infrastructure companies in India.
Earlier named Patel Electricals, Polite Powertech is headed by promoter and director Yogesh Patel, having over 15 years of experience in the industry. The firm undertakes turnkey EPC (Engineering, Procurement, and Construction) projects on Extra High Voltage (EHV) cable systems, Medium, Low, and High Voltage distribution networks, and solar power plants.
So far, Polite Powertech has reportedly done over 30 turnkey jobs, installing over 4,000 km of transmission lines and carrying out large-scale distribution tasks for the public and private sector clients.
Sharing his thoughts on the investment, Steptrade Capital Director and Fund Manager Kresha Gupta noted:
Fund Manager Kresha Gupta noted: "Chanakya Opportunities Fund believes in empowering companies that catalyze sustainable growth. We have interests across sectors such as renewable energy, infrastructure, and defense. Polite Powertech is a robust addition to our portfolio and aligns perfectly with our vision of a future-proof India."
This investment is in line with major government plans like the Revamped Distribution Sector Scheme (RDSS), Green Energy Corridor II (GEC II), and Gujarat's Rs 1 lakh crore investment proposal to establish underground transmission lines and substations.
Polite Powertech has an active partnership with public power utilities like GETCO and DISCOMs, and also executes large-scale private industrial projects, making it a major player in India's energy infrastructure space.
source : www.siliconindia.com