Rajesh Power Services Ltd: AGM Approves IPO Object Variation

Rajesh Power Services Ltd announced that its shareholders, at the 17th Annual General Meeting (AGM) held on September 24, 2026, approved a variation in the terms of the Objects of the Issue for its Initial Public Offer (IPO). This variation was previously recommended by the Audit Committee and approved by the Board of Directors on September 3, 2026. The IPO, which included a fresh issue of 27,90,000 equity shares and an offer for sale of 20,00,000 equity shares, had its prospectus dated November 28, 2024. The unutilized proceeds of ₹2,510.93 Lakhs from the IPO, initially allocated for capital expenditure items like equipment purchase and solar plant setup, will now be reallocated for BESS Facility Setup & Associated Infrastructure.