Chanakya Opportunities Fund I, an SME Exchange-focused Alternative Investment Fund (AIF) managed by Steptrade Capital, has made a strategic investment in Polite Powertech, a leading player in the power transmission and distribution sector.
The fund led the company’s ₹20 crore pre-IPO round, contributing over 15% of the total capital raised. This funding round is aimed at supporting Polite Powertech’s next phase of growth as it gears up for a potential listing on the SME platform.
Formerly known as Patel Electricals, Polite Powertech is spearheaded by Yogesh Patel, and boasts over 15 years of experience in executing turnkey EPC (Engineering, Procurement, and Construction) projects. The company operates across the full voltage spectrum—Extra High Voltage (EHV), High Voltage (HV), Medium Voltage (MV), and Low Voltage (LV)—and has expanded its footprint into solar power and underground distribution networks.
To date, the company has successfully delivered more than 30 turnkey projects and laid over 4,000 km of transmission lines. It works closely with key state utilities such as GETCO and DISCOMs, while also executing high-value industrial projects for private sector clients—establishing a strong reputation for execution and reliability in the sector.
This investment arrives at a time of heightened activity in India’s power infrastructure sector. The Gujarat government has announced a massive allocation of ₹1 lakh crore to upgrade the state’s transmission systems, including underground cable networks and substations. In parallel, national-level initiatives such as the Revamped Distribution Sector Scheme (RDSS) and Green Energy Corridor Phase II are further accelerating growth and modernization efforts in the sector.
With this infusion of capital, Polite Powertech is well-positioned to capitalise on the sectoral momentum and solidify its standing as a critical player in India’s power infrastructure transformation.
By: Arushi Agarwal
