DRHP Reference: Registration_18032026232109_DRHPPOLITE.pdf
20 March 2026:Polite Powertech Limited (“the Company”), has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI).
The Company is an integrated power infrastructure engineering, procurement, and construction (“EPC”) company, engaged in the design, supply, installation, testing, and commissioning of power transmission, distribution, and renewable energy projects. It’score expertise lies in the execution of high-voltage and extra-high-voltage transmission lines, underground and overhead cabling networks, Solar EPC projects, Air-Insulated and Gas-Insulated Substations for state government utilities,public sector undertakings as well as private sector entities.
The Company’s business traces its roots to M/s. Patel Electricals, a proprietary firm established in 2006 by one of its Promoter YogeshkumarNarottambhai Patel. Pursuant to a Business Transfer Agreement dated January 6, 2024, the Company acquired the business oftrading and dealing in electrical items EPC electrical contracting business of M/s. Patel Electricals, including all its assets, liabilities, licenses, and permits, among other things, excluding solar energy and other solar-related business, as a going concern, w.e.f. December 31, 2023.
According to the DRHP, the Company plans to raise funds through an Initial Public Offering (IPO). The total Offer size is upto 1,25,00,000 Equity Shares comprising of aFresh Issue of up to 1,00,00,000 Equity Shares and an Offer for sale of up to 25,00,000 Equity Shares. The net proceeds will be used for working capital requirements and general corporate purposes. The equity shares are proposed to be listed on the NSE and BSE.
The Company has delivered financial growth over recent periods, with revenue from operations increasing sharply from Nil in FY2023 to ₹2,464.87 lakhs in FY2024 to ₹15,563.01 lakhs in FY2025, and further reaching ₹9,732.02 lakhs in H1 FY2026, alongside healthy profitability reflected in EBITDA of Nil, ₹155.30 lakhs, ₹2,164.44 lakhs, and ₹1,716.38 lakhs, respectively, and PAT of Nil, ₹84.23 lakhs, ₹1,302.46 lakhs, and ₹1,073.91 lakhs, respectively. This operating and financial performance is complemented by a healthy order book of ₹31,356.19 lakhs as of December 31, 2025, providing clear visibility for sustained revenue growth going forward. Further as on March 12, 2026, the Company has received additional orders aggregating to a basic contract value of ₹30,220.71 lakhs.
Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited are the book-running lead managers (BRLMs) to the offer.
