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Chanakya Opportunities Fund leads Rs 15 crore funding round in NNT Developers

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ISN Team
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Chanakya Opportunities Fund I, StepTrade Share Services' maiden fund and India’s first SME-exchange-focused fund, has invested in Patna-based NNT Developers as part of a Rs 15 crore pre-IPO funding round alongside other investors.

Launched in 2023, Chanakya Opportunities Fund I is a SEBI-registered Category II Alternative Investment Fund (AIF) dedicated to empowering and scaling small and medium enterprises (SMEs).

What does NNT Developers do?

Founded by Suyash Kumar in 2017, NNT Developers specialises in construction, railway infrastructure, flood protection, and waterworks.

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The company has built a strong reputation in the market due to its expertise in flood control projects. It is recognized for its work in flood control initiatives, civil construction, and infrastructure projects related to roads and railways.

Notably, it actively bids for tenders in Bihar, Jharkhand, and Madhya Pradesh, as well as opportunities with Indian Railways and the National Highways Authority of India (NHAI). 

Purpose of fundraising

NNT Developers will use the funds to meet its working capital requirements and secure other projects through tender bidding.

Some notable projects include flood control work in Bihar and Jharkhand, railway infrastructure enhancements in Jharkhand, and landmark constructions such as the ITI Chapra, RTO offices, and riverbank reinforcements.

Suyash Kumar, Founder and Managing Director of NNT Developers, said, “We are thrilled to have Chanakya Opportunities Fund as a partner in our growth journey. This reflects our shared vision of driving infrastructure development for the betterment of society.”

Market presence

The company claims to have an order book valued at approximately Rs 750 crore, with an estimated completion timeline of around three years, which positions it well for sustained long-term growth.

In fiscal year 2024, NNT closed with an impressive topline of Rs 146 crore and a healthy bottom line. 

Speaking of the investment, Kresha Gupta, Founder and Fund Manager, Chanakya Opportunities Fund stated, “NNT Developers has already established a strong presence in the Indian infrastructure sector by delivering some key projects that benefit society. This investment aligns with Chanakya’s philosophy of empowering companies that contribute to the nation’s development. With an impressive orderbook, NNT Developers stands out as a company committed to driving public welfare through its work.”

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