15th October 2024, Ahmedabad- Cosmic PV Power, a leading Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) in solar panel manufacturing, has secured a significant lead investment from Chanakya Opportunities Fund I, led by CA Kresha Gupta. Renowned for its excellence in the production of high-quality solar panels, Cosmic PV Power provides its OEM and ODM services to various clients while also selling solar panels under its own brand.
Founded by Jenish Kumar Ghael & Shravan Kumar Gupta in 2020, Cosmic PV Power Private Limited’s solar vertical produces polycrystalline and monocrystalline and Topcon solar panel with capacity up to 580KWp. Equipped with Mono-Perc and Topcon technology, Cosmic PV Power operates a manufacturing facility with a capacity of 600MW, positioning it as a key player in India’s renewable energy sector.
“We are excited to have Chanakya Opportunities Fund as an investor, supporting our mission to expand our manufacturing capacity from Megawatt to a Gigawatt Factory. This investment reinforces our commitment to driving India’s clean energy transition and sustainable growth as we continue to innovate and expand Cosmic PV Power’s footprint in the solar industry.” said Shravan Kumar Gupta, Director, Cosmic PV Power Private Limited
Chanakya Opportunities Fund is India’s first SEBI-registered CAT II fund focused on the SME Exchange and Microcap Segment. The fund is being managed by StepTrade Share Services Pvt. Ltd. (Investment Management Entity). Investment management firm StepTrade Share Services recently made a significant global leap with the launch of ‘Steptrade India Fund’ through GIFT city. This fund allows global investors to tap into India’s burgeoning SME sector and positions Steptrade as a key player on the international stage.
Steptrade holds licences across AIF categories and is certified to provide Portfolio Management Services. Building on the success of the Chanakya Opportunities Fund and the Steptrade Revolution Fund, Steptrade is driven by a bold vision to become the largest Asset Management Company (AMC) dedicated to empowering SMEs.
Speaking on the investment Kresha Gupta, Founder and Fund Manager, Chanakya Opportunities Fund said “Our investment in Cosmic PV Power is the testament of our vision to support clean and green India.”
About Chanakya Opportunities Fund:
Ms. Gupta, one the youngest Fund Managers in the country launched Chanakya Opportunities Fund in 2023 with the goal of supporting and helping small and medium-sized businesses (SMEs). Chanakya is India’s first SEBI-registered CAT II fund focused on the SME Exchange and Microcap Segment. The fund is being managed by StepTrade Share Services Pvt. Ltd. (Investment Management Entity). StepTrade now has SEBI registered CAT I, II & III Alternative Investment Funds (AIF) as well as PMS under its banner and the company is all set to debut in GIFT City with StepTrade India Fund.
Chanakya Opportunities Fund has acquired almost 1.6% stake in Cosmic PV Power. This strategic partnership underscores Chanakya’s commitment to supporting renewable energy and contributing to India’s sustainable future.
