Rajesh Power Services Limited has received official confirmation as the lowest bidder (L1 stage) for a major power infrastructure project from Rajasthan Rajya Vidyut Prasaran Nigram Limited (RRVPN). The company informed BSE about this development through a regulatory filing under SEBI Regulation 30 on February 26, 2026.

Project Specifications and Location

The confirmed project involves the construction of a 132/33 KV, 2x50 MVA Gas Insulated Substation (GIS) at Hathi Bhata in Ajmer district, along with associated transmission lines. The comprehensive scope includes survey, supply of all equipment and materials, erection including civil works, testing, and commissioning.

Regulatory Compliance and Filing Details

The disclosure was made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing was signed by Jyoti Dakshesh Mochi, Company Secretary and Compliance Officer (Membership No. A39777).

Project Execution Framework

While Rajesh Power Services has received L1 confirmation, the final declaration as successful bidder remains subject to receiving the Letter of Intent (LOI) or Letter of Award (LOA) from RRVPN. The 18-month execution timeline will commence from the date of project commencement, covering the complete engineering, procurement, and construction (EPC) scope.

The project includes sophisticated GIS technology implementation, which offers compact design and enhanced reliability for power transmission infrastructure. The company has indicated that further disclosures, including detailed project specifics required under SEBI regulations, will be made separately upon receipt of the formal LOI or LOA from the concerned authority. This development strengthens Rajesh Power Services' position in Rajasthan's power transmission sector.

Rajesh Power Services Limited has announced the formation of a strategic joint venture with VITS Total Power Solutions Private Limited for a significant railway infrastructure project. The partnership, disclosed under Regulation 30 of SEBI regulations on February 12, 2026, establishes a new entity called RPSL-VITS JV to execute critical transmission line work for the East Central Railway.

Project Scope and Technical Specifications

The joint venture will undertake comprehensive responsibilities for a 132kV transmission infrastructure project. The scope encompasses the design, supply, erection, testing, and commissioning of a 132kV transmission line connecting GSS Nabinagar to Railway TSS Nabinagar. Additionally, the project includes the installation of two 132kV line bays at GSS Nabinagar under the Railway Project Danapur of East Central Railway.

Joint Venture Structure and Shareholding

The partnership establishes a clear governance structure with defined roles for both entities. Rajesh Power Services Limited will serve as the lead member, maintaining operational control through its majority shareholding position. The company has secured a controlling interest that positions it to guide project execution and strategic decisions.

Regulatory Compliance and Disclosure

The company has confirmed that this joint venture agreement does not constitute a related party transaction, as VITS Total Power Solutions Private Limited is not connected to the promoter, promoter group, or group companies in any manner. The transaction structure ensures arm's length dealing principles are maintained throughout the partnership duration.

Key regulatory aspects include:

• No share issuance involved in the joint venture formation
• No potential conflicts of interest identified
• No nominee director appointments on the board
• Compliance with SEBI listing obligations maintained

Strategic Business Collaboration

The joint venture represents a strategic alliance designed to leverage the combined expertise and resources of both companies. The parties have committed to working together until the successful completion of the railway transmission project, pooling their technical capabilities and operational strengths to deliver the infrastructure requirements of the East Central Railway.

This collaboration enables both entities to participate in significant railway infrastructure development while sharing project risks and leveraging complementary competencies in the power transmission sector.