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.

Rajesh Power Services has secured an intent letter from Gujarat Urja Vikas Nigam Limited (GUVNL) for a substantial battery energy storage project. The development represents a significant milestone for the infrastructure company as it expands its footprint in the renewable energy storage sector.

Project Specifications

The intent letter covers a standalone battery energy storage project with specific technical parameters that highlight the scale of the undertaking.

Strategic Significance

The intent letter from GUVNL positions Rajesh Power Services to participate in Gujarat's energy storage infrastructure development. Battery energy storage systems play a crucial role in modern power grids by providing grid stability, load balancing, and supporting renewable energy integration.

The 65 MW / 130 MWh capacity represents a substantial energy storage facility that can contribute to grid reliability and help manage power supply fluctuations. Such projects are becoming increasingly important as India accelerates its renewable energy adoption and requires robust storage solutions to ensure consistent power supply.

Company Profile

Rajesh Power Services operates in the infrastructure development sector, focusing on power-related projects and services. The company's involvement in this battery energy storage project demonstrates its strategic expansion into emerging energy technologies and its capability to handle large-scale infrastructure projects.

This intent letter represents an important step in the project development process, indicating GUVNL's confidence in the company's technical and execution capabilities for this energy storage initiative.