Polite Powertech Limited Files DRHP with SEBI, IPO to Include Fresh Issue and OFS

Polite Powertech Limited, an engineering, procurement, and construction (EPC) company in the power infrastructure sector, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), initiating the process for its proposed initial public offering (IPO).

As per the DRHP filed on March 18, 2026, the IPO will be a book-building issue comprising a mix of fresh issue of equity shares and an offer for sale (OFS) by existing shareholders. The fresh issue is aimed at raising capital for business expansion and operational needs, while the OFS will allow existing investors to partially exit their holdings.

Polite Powertech operates in the power transmission and distribution segment, offering EPC services across extra high voltage (EHV), high voltage (HV), and medium voltage (MV) systems, along with execution of solar power and underground cabling projects.

Polite Powertech IPO - Issue Details

• Issue Type: Book-built issue (Fresh Issue + OFS) of up to 1,25,00,000 Equity Shares of face value of ₹10 each.
• Fresh Issue: Up to 1,00,00,000 Equity Shares of face value of ₹10 each.
• Offer for Sale (OFS): Up to 25 lakh shares Equity Shares of face value of ₹10 each
• Face Value: ₹10 per equity share
• Proposed Listing: The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE. The price band and minimum bid lot will be decided in consultation with the book-running lead manager(s).
• Book Running Lead Managers: Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited.
• Registrar: Kfin Technologies Limited.

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Utilisation of Offer Proceeds

The Company proposes to utilise the Net Proceeds from the fresh issue towards:

• Funding working capital requirements
• General corporate purposes

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About Polite Powertech Limited

Polite Powertech Limited is a Surat-based EPC company engaged in the execution of power transmission and distribution projects. The company provides end-to-end solutions including design, engineering, procurement, and construction of substations, transmission lines, and underground cabling infrastructure. 

It has experience in executing turnkey projects across voltage segments and has also expanded into solar EPC projects, aligning with India’s growing focus on renewable energy and infrastructure development.

The company has delivered multiple infrastructure projects and works closely with state utilities and private sector clients, positioning itself as a growing player in the power EPC segment.

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