Steptrade Capital invests Rs.25 crore in pre-IPO round of Tesla Power
- September 23, 2025
Steptrade Capital’s debut Category II Alternative Investment Fund (AIF), Chanakya Opportunities Fund I, has led a Rs.25-crore pre-IPO round of Tesla Power Equipments & Projects Ltd (TPEPL).
The fresh capital will help the company expand manufacturing and strengthen TPEPL’s supply chain as India accelerates the shift to clean energy, a release from Steptrade Capital said.
Chanakya contributed about 22 per cent of the total raise, underscoring its conviction in India’s fast-growing renewable energy market, a release from Steptrade Capital said. Managed by CA Kresha Gupta and CFA Ankush Jain, Chanakya Opportunities Fund I focuses on high-potential sectors such as renewable energy, infrastructure, power & energy, waste management and defence.
Sixth investment in power & energy
“This marks the sixth investment by Chanakya in the Power & Energy sector, reaffirming our strong conviction in the long-term opportunities this space offers. We believe that our association with Tesla Power Equipments and Projects Ltd will not only create value for our investors but also contribute meaningfully to India’s renewable energy transition,” said CA Kresha Gupta, Director & Fund Manager, Steptrade Capital.
IDT player
Founded in 2004 by Jaideep Jain, Chairman & Managing Director, Tesla Power Equipments & Projects Ltd (TPEPL) manufactures, supplies, erects, tests and commissions power transformers, distribution transformers and inverter-duty transformers (IDT) crucial for solar and wind projects. Jaideep Jain, is also the promoter of Tesla Transformers (India) Ltd.
From its plants in Bhopal and Mandideep (both in Madhya Pradesh) with a combined annual manufacturing capacity of 8,000 MVA, TPEPL caters to marquee clients such as Adani Green, Tata and NTPC, besides key government contracts. With commercial operations starting in October 2016, TPEPL specialises in IDTs up to 20 MVA 33kV class, equipment central to integrating, converting and distributing renewable power.
Featured photograph showing an inverter-duty transformer of Tesla Power Equipments & Projects Ltd (TPEPL) is for representation only.