Transformer supplier to solar projects Tesla Power raises Rs.25-Cr from Chanakya Opportunities Fund

Steptrade Capital’s debut Category II Alternative Investment Fund (AIF), Chanakya Opportunities Fund I, has led an INR 25 crore round for Bhopal-based Tesla Power Equipments and Projects Ltd (TPEPL). Chanakya contributed about 22% of the total raise.Founded in 2004 by Jaideep Jain, TPEPL manufactures, supplies, erects, tests and commissions power transformers, distribution transformers and inverter-duty transformers (IDTs) for solar and wind projects. From its plants in Bhopal and Mandideep with a combined 8,000 MVA capacity, Tesla Power caters to clients such as Adani Green, Tata and NTPC, besides government agencies.