Polite Powertech Submits IPO Application to Address Working Capital Needs

Polite Powertech Files Draft Red Herring Prospectus for IPO

Polite Powertech, a Surat-based power infrastructure engineering, procurement, and construction company, has submitted a Draft Red Herring Prospectus to SEBI to raise funds through an Initial Public Offering (IPO).

Key Details

• 1.25 crore equity shares will be sold through the IPO, comprising a fresh issue of 1 crore equity shares and an offer-for-sale of 25 lakh shares.
• The offer-for-sale will be led by promoter Yogeshkumar Narottambhai Patel.
• The IPO is expected to raise Rs 100 crore for working capital requirements, with the remaining funds utilized for general corporate purposes.

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Company Overview

Polite Powertech, incorporated in 2023, specializes in the execution of high-voltage and extra-high-voltage transmission lines, underground and overhead cabling networks, solar EPC projects, and air-gas insulated substations.

Financial Performance

• The company has posted a profit of Rs 13.02 crore for the year ended March 2025, representing a 15-fold growth from Rs 0.84 crore in the previous year.
• Revenue has soared over six-fold to Rs 155.6 crore from Rs 24.6 crore during the same period.
• In the first half of the current financial year, the company reported a profit of Rs 10.7 crore on revenue of Rs 97.3 crore.

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IPO Details

• Arihant Capital Markets and Valmiki Leela Capital have been appointed as the book running lead managers for the Polite Powertech IPO.