Annu Projects, a provider of telecom network construction solutions, raised Rs 5 crore in funding from Chanakya Opportunities Fund, a Sebi-registered Category II Alternative Investment Fund (AIF) that specializes in SME investment, through a preferential issue.
The funds will be instrumental in advancing Annu Project’s strategic initiatives, meeting its working capital requirements, and ensuring high-quality services across its core sectors.
“This investment from Chanakya Opportunities Fund will enable us to strengthen our market position and drive sustained growth in these essential areas. The investment is a testament to our vision and the strength of our team. This collaboration will fuel our growth, enhance our capabilities, and drive us closer to our goal of delivering exceptional value to our stakeholders,” said Sanjay Saraf, Director, Annu Projects.
Annu Projects, formerly known as Annu Infra Construct India, said that it develops, and maintains critical infrastructure across diverse sectors, including telecommunications, sewerage systems, gas pipelines, and the power sector.
In the fiscal year 2023-2024, the Ranchi headquartered company reported revenue from operations of Rs 153.53 crore, an increase from Rs 128.91 crore in 2022-2023 and Rs 110.28 crore in 2021-2022, as per the press release.
Kresha Gupta, Founder and Fund Manager of Chanakya Opportunities Fund, stated, "This investment reflects our confidence in their leadership and vision to disrupt the market, as well as our belief in a future where they redefine industry standards."
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