Chanakya Fund invests in Polite Powertech to back green power push
ADVERTISEMENT Chanakya has taken the lead in the pre-IPO funding round by investing over 15% of the total capital raised, part of its commitment to support fast-growing and sustainability-focused companies in India's power infrastructure sector.
Polite Powertech led by promoter and director, Yogesh Patel has more than 15 years of experience and specialises in executing turnkey EPC (Engineering, Procurement, and Construction) projects across EHV (Extra High Voltage) cable systems, MV/LV/HV distribution networks, and solar power installations. The company has already laid 4,000 kms of transmission lines, 30 turnkey projects and power distribution work over the years, it said.
Kresha Gupta, Director and Fund Manager at Steptrade Capital, said, 'At Chanakya Opportunities Fund, our core philosophy is to back companies that contribute meaningfully to a sustainable and improved future. From power infrastructure to renewable energy and defense, our investments reflect this long-term vision. Polite Powertech is a powerful addition to our mission and a promising force in India's electricity transmission landscape.'
The investment aligns with significant government initiatives supporting the power infrastructure sector even as the Government of Gujarat has allocated Rs1 lakh crore to accelerate the development of underground transmission lines and substations. Programs such as the Revamping Distribution Sector Scheme (RDSS), Green Energy Corridor II (GEC II), and the projects of Under Ground (UG) transmission lines underscore the government's commitment to enhancing the reliability, sustainability, and efficiency of India's electricity grid. Polite Powertech closely works with Government's Power Transmission and Distribution companies and bids for tenders of GETCO and DISCOMs. Polite Powertech also undertake private industrial projects from major private players. Leveraging its strong execution capabilities, it has gained credibility and recognition across the industry.
With this investment, Steptrade Capital continues to position itself at the forefront of India's infrastructure transformation by supporting visionary entrepreneurs building the next generation of sustainable networks, it said in a statement.
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