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Integrated power infrastructure EPC company Polite Powertech Ltd has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of 1 crore equity shares and an offer for sale of 25 lakh equity shares. Proceeds from the issue will be utilised for funding working capital requirements of the company and general corporate purposes. Polite Powertech 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. The company reported a revenue from operations increasing sharply from nil in FY2023 to Rs 24.65 crore in FY2024 to Rs 155.63 crore in FY2025, and further reaching Rs 97.32 crore in H1 FY26. Arihant Capital Markets Limited and Valmiki Leela Capital Private Limited are the book-running lead managers (BRLMs) t
Accuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP, and four officials have settled an AIF norms violation case with markets regulator Sebi, after paying Rs 21.75 lakh under the settlement mechanism. The four officials who opted for settlement are Naresh Chand Gupta, Raman Nagpal, Prateek Gupta and Divya Singha. In its order passed on Tuesday, Sebi said the proceedings initiated through summary settlement notices have been disposed of in terms of the Settlement Regulations. The case stems from Sebi's examination of quarterly filings of Accuracap Vectra Fund, a scheme under Accuracap Prime Opportunities Fund, for FY24. The regulator found that the scheme failed to maintain the minimum required corpus of Rs 20 crore and did not restore it within three months of the breach. Despite this, the fund neither redeemed investor units nor wound up the scheme. Additionally, the Alternative Investment Fund (AIF) was found to have exceeded the maximum permissible invest