Kresha Gupta Highlights Governance Risks in SEBI’s New AIF Norms
Date: September 22, 2025
Steptrade Capital’s debut Category II Alternative Investment Fund (AIF), Chanakya Opportunities Fund I, has led a Rs 25-crore pre-IPO round of Tesla Power Equipments and Projects (TPEPL), a prominent Indian manufacturer in Inverter Duty Transformers for renewable energy projects.
Chanakya contributed approximately 22 per cent of the total raise, reflecting strong confidence in India’s growing energy renewable market. Managed by CA Kresha Gupta and CFA Ankush Jain, Chanakya Opportunities Fund I invests in high-potential sectors such as Renewable Energy, Infrastructure, Power & Energy, Waste Management and Defence. With this investment, the SME-exchange–focused AIF has now deployed more than Rs 55 crore across private companies, strengthening its position as an active supporter of India’s energy transition.
“This marks the sixth investment by Chanakya in the Power & Energy sector, reaffirming our strong conviction in the long-term opportunities this space offers. We believe that our association with Tesla Power Equipments and Projects Limited will not only create value for our investors but also contribute meaningfully to India’s renewable energy transition,”
Founded in 2004 by Jaideep Jain, Chairman & Managing Director, TPEPL manufactures, supplies, erects, tests and commissions power transformers, distribution transformers and inverter-duty transformers (IDTs) crucial for solar and wind projects. From its state-of-the-art plants in Bhopal and Mandideep with a combined 8,000 MVA capacity, Tesla Power caters to marquee clients such as Adani Green, Tata and NTPC, besides key government contracts. TPEPL specialises in IDTs up to 20 MVA 33 kV class, equipment central to integrating, converting and distributing renewable power. The fresh capital will help the company expand manufacturing and strengthen its supply chain as India accelerates the shift to clean energy.
Industry forecasts indicate that solar and wind energy could increase from 34 per cent of India’s installed capacity in April 2025 to nearly 52 per cent by 2032, driving sustained demand for transformers and allied infrastructure. By anchoring Tesla Power’s pre-IPO round, Chanakya Opportunities Fund I reinforces its strategy of future-ready investments that combine industrial depth with renewable impact, showcasing how domestic capital is powering India’s next wave of sustainable energy growth.
Source : www.bwdisrupt.com