New Delhi, March 20 Integrated power infrastructure EPC company, Polite Powertech Ltd, has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, SEBI, to raise funds through an Initial Public Offering (IPO).
The IPO comprises a fresh issue of 1 crore equity shares and an offer for sale of 25 lakh equity shares.
The proceeds from the issue will be used to fund the company's working capital requirements and for general corporate purposes. Polite Powertech is an integrated power infrastructure engineering, procurement, and construction (EPC) company, involved in the design, supply, installation, testing, and commissioning of power transmission, distribution, and renewable energy projects.
The company reported a sharp increase in revenue from operations, from nil in FY2023 to Rs 24.65 crore in FY2024 and Rs 155.63 crore in FY2025, and further reaching Rs 97.32 crore in H1 FY26.
Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited are the book-running lead managers (BRLMs) for the offer. The equity shares are proposed to be listed on NSE and BSE.