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.

Rajesh Power Services Limited has announced inter-se transfers of equity shares between promoter and promoter group members, filing comprehensive disclosures with BSE Limited under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transactions were executed on February 3, 2026, through off-market gift deeds involving multiple family members.

Transaction Overview

The share transfers involved several promoter group members conducting simultaneous acquisitions and disposals. All transactions were completed through gift deeds in an off-market arrangement, maintaining the company's overall equity structure while redistributing shareholdings among family members.

Key Share Movements

Krunal Daxesh Panchal disposed of 6,50,000 equity shares, reducing his holding from 6,66,666 shares (3.70%) to 16,666 shares (0.09%). Simultaneously, Daxesh Ramchandra Panchal acquired 6,50,000 shares, increasing his stake from 14,57,207 shares (8.09%) to 21,07,207 shares (11.70%).

Additional Promoter Transactions

Daxesh Ramchandra Panchal also disposed of 11,07,206 shares (6.15%) to other family members, reducing his holding from 21,07,207 shares (11.70%) to 10,00,001 shares (5.55%). The disposed shares were distributed between Kurang Ramchandra Panchal and Nehal Ramchandra Panchal.

Kurang Ramchandra Panchal, identified as a promoter, acquired 5,53,603 shares (3.07%), increasing his holding from 18,05,900 shares (10.03%) to 23,59,503 shares (13.10%). Nehal Ramchandra Panchal, a promoter group member, also acquired 5,53,603 shares (3.07%), raising his stake from 7,42,411 shares (4.12%) to 12,96,014 shares (7.20%).

Regulatory Compliance

The company filed all required disclosures under Regulation 29(2) of SEBI (SAST) Regulations, 2011, with detailed formats showing shareholding patterns before and after each transaction. Company Secretary and Compliance Officer Jyoti Dakshesh Mochi coordinated the regulatory filings, ensuring full compliance with exchange requirements.

The inter-se transfers represent internal family arrangements among the promoter group without affecting the company's total share capital or introducing external investors. All transactions maintain the existing equity structure of 1,80,07,392 equity shares of Rs. 10/- each.