Intimation under Regulation 30 of SEBI (LODR),2015 - Announcement of Joint Venture with Private Limited Company.
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Rajesh Power Services Ltd has signed a Joint Venture Agreement with VITS Total Power Solutions Private Limited to form 'RPSL-VITS JV' for a specific railway infrastructure project. The JV will execute the design, supply, erection, testing and commissioning of a 132kV D/C 3-phase transmission line from GSS Nabinagar to Railway TSS Nabinagar, along with two 132kV line bays at GSS Nabinagar, under the Railway Project Danapur of East Central Railway. Rajesh Power will hold a 51% stake and act as the lead member, while VITS Total Power Solutions will hold the remaining 49% stake as constitute member. The filing confirms the deal is not a related party transaction and the counterparty has no connection to the company's promoter group. No further financial details of the project value were disclosed in the filing.
This JV gives Rajesh Power Services a majority stake in a project-specific entity that could contribute to order book growth in the railway electrification segment, potentially supporting future revenue. The structured 51-49 partnership keeps operational control with the company while sharing execution risk.