Polite Powertech Files Draft Red Herring Prospectus with SEBI for Proposed Public Issue

Polite Powertech Limited Files Draft Red Herring Prospectus for Upcoming IPO

Company Overview

Polite Powertech Limited, a comprehensive engineering, procurement, and construction (EPC) firm, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company is focused on power infrastructure, involved in the design, provision, installation, testing, and commissioning of projects related to power transmission, distribution, and renewable energy.

IPO Details

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The overall offer size amounts to a maximum of 1,25,00,000 equity shares, which includes a fresh issue of up to 1,00,00,000 equity shares and an offer for sale of up to 25,00,000 equity shares. The funds raised will be utilised for working capital needs and general corporate purposes. Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited are the book-running lead managers (BRLMs) to the offer.

Company Performance

Polite Powertech Limited has experienced significant financial growth in recent years. Operational revenue increased from zero in FY2023 to ₹24.65 crore in FY2024 and continued to rise to ₹155.63 crore in FY2025. In the first half of FY2026, the revenue reached ₹97.32 crore. Profitability has also seen improvements, with EBITDA starting at zero in FY2023, climbing to ₹1.55 crore in FY2024, then reaching ₹21.64 crore in FY2025, and standing at ₹17.16 crore in the first half of FY2026. Net profit showed a similar pattern, initially at zero, followed by ₹0.84 crore, ₹13.02 crore, and ₹10.74 crore, respectively.

Order Backlog and Future Prospects

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The growth is underpinned by a robust order backlog of ₹313.56 crore as of December 31, 2025, providing clear foresight for upcoming revenues. Furthermore, as of March 12, 2026, the company has obtained new orders totaling ₹302.21 crore.