Chanakya has taken the lead in the pre-Ipho financing round by investing more than 15% of the total cited capital, part of its dedication to support fast-growing and sustainability-oriented companies in the India industry-infrastructure sector.
Polite Powertech led by promoter and director, Yogesh Patel has more than 15 years of experience and specializes in carrying out Turnkey EPC (engineering, purchasing and construction) projects in EHV (extra high -voltage) cable systems, MV/LV/HV distribution networks and installations of ZonneGiegie. Over the years, the company has already laid 4,000 km of transmission lines, 30 Turnkey projects and current distribution work.
Kresha Gupta, director and fund manager at Steptrade Capital, said: “At Chanakya Opportunities Fundities, our core philosophy is to support companies that make sense to a sustainable and improved future. From power infrastructure to renewable energy and defenses, our investment is a power-mining vision. Promising power in India’s electricity transfers landscape. “
The investment corresponds to considerable government initiatives that support the power infrastructure sector, even if the government of Gujarat RS1 Lakh Crore has assigned to accelerate the development of underground transmission lines and stations. Programs such as the refurbishing distribution sector schedule (RDSS), Green Energy Corridor II (GEC II) and the projects of the transmission lines underground (UG) underline the government’s dedication to improve the reliability, sustainability and efficiency of India’s electricity network.
Polite Powertech works closely with the government transmission and distribution companies of the government and bids for tenders from Getco and Discoms. Polite Powertech also carries out private industrial projects of large private players. The use of its strong implementation options, it has received credibility and recognition throughout the industry. With this investment, Steptrade Capital continues to position itself in the vanguard of India’s infrastructure transformation by supporting visionary entrepreneurs who are building the next generation of sustainable networks, it said in a statement.
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