RPSG Ventures has received an IND A-/Stable/IND A2+ credit rating from India Ratings and Research for its bank loan facilities worth INR11,550 million. The rating assignment reflects the company's strategic importance as a key holding company within the RPSG Group and its strong operational fundamentals.

Rating Details and Rationale

India Ratings has taken a standalone view of RPSG Ventures while factoring in benefits from its association with the RPSG group. The rating reflects the company's position as a key holding company providing critical IT/ITES services to group entities and maintaining enhanced financial flexibility through group support.

Financial Performance and Metrics

RPSG Ventures demonstrated strong financial performance with robust profitability margins and adequate liquidity position. The company's revenue streams include IT/ITES services, dividend income from subsidiaries, interest income from group entities, and rental income.

Key Rating Strengths

The rating agency highlighted several positive factors supporting the credit assessment. RPSG Ventures operates as a key holding company for RPSG Group's growth portfolio companies in IT/ITES, real estate, FMCG, and sports businesses. The company benefits from strong income visibility through its essential IT/ITES services to group entities in the power utility business, which mitigates market risk and eliminates receivables risk.

The company maintains a proven track record of dividend income from Firstsource Solutions Limited, a financially strong subsidiary, enhancing income stability. Additionally, RPSG Ventures earns timely interest income on loans and advances provided to subsidiaries, supporting predictable cash flows.

Credit Concerns and Monitoring Points

India Ratings noted that RPSG Ventures is increasing debt to extend financial support to subsidiaries, primarily in FMCG and sports segments, through investments and loans. The rating agency expects peak indebtedness of INR14,000 million over FY27-FY29, compared to INR4,600 million in 9MFY26 and INR2,801 million in FY25.

Despite higher projected indebtedness, the agency expects interest coverage ratio and loan-to-value to remain above 2.0x and 20% respectively over FY27-FY29, supported by adequate liquidity and strong group financial flexibility.

Liquidity and Group Support

RPSG Ventures maintains adequate liquidity with free cash and bank balance of INR1,080 million as of 9MFY26. The company received dividend from Firstsource Solutions of approximately INR2,057 million in 4QFY26 and generated robust free cash flow of INR2,843 million in FY25. The strong financial flexibility from RPSG Group association provides access to diversified funding avenues and enhances financial resilience.

RPSG Ventures Limited has announced the opening of a special window for transfer and dematerialization of physical securities, following regulatory guidelines issued by the Securities and Exchange Board of India. The company published newspaper notifications on April 3, 2026, informing shareholders about this facility.

Special Window Details

Pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/1/3750/2026 dated January 30, 2026, the special window will remain operational for one year from February 5, 2026 to February 4, 2027. This facility is exclusively available for physical securities that were bought or sold prior to April 1, 2019.

Eligibility Criteria

The special window covers two main categories of transfer requests. First, fresh lodgements for physical securities with transfer deeds executed before April 1, 2019. Second, re-lodgement of transfer requests that were originally submitted prior to April 1, 2019 but were rejected, returned, or not processed due to deficiencies in documentation or processes.

Applicability Matrix

Transfer Conditions and Restrictions

All securities transferred under this special window will be mandatorily credited to the transferee's demat account only. The transferred securities will be subject to a lock-in period of one year from the date of registration of transfer. During this lock-in period, such securities cannot be transferred, lien-marked, or pledged.

Only transfer requests accompanied by original security certificates, along with duly executed transfer deeds and relevant supporting documents as prescribed in the SEBI Circular, will be considered under this special window.

Contact Information for Shareholders

Eligible transfer requests should be lodged with the company's Registrar and Share Transfer Agent at Link Intime India Private Limited, located at C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai - 400083. The helpline numbers are 810 811 6767 and 1800 1020 878.

For queries or assistance, investors may contact investor.helpdesk@linkintime.co.in or rpsgventures.secretarial@rpsg.in . The notice was signed by Sayak Chatterjee, Company Secretary, and dated April 2, 2026, from Kolkata.