Rajesh Power Services Limited (RSPL) saw its shares rally more than 5% after the company announced the signing of multiple Memorandums of Understanding (MoUs) with the Government of Gujarat. The agreements, signed on the opening day of the Vibrant Gujarat Regional Conference (VGRC) 2025, represent cumulative investments worth ₹4,754 crore. The move underscores the company’s growing role in strengthening Gujarat’s power infrastructure and promoting employment generation across the state.
The inaugural edition of VGRC 2025 is being held at Ganpat University, Mehsana, from October 9 to 10, 2025. The two-day summit was inaugurated by Gujarat Chief Minister Shri Bhupendra Patel and Union Minister Shri Ashwini Vaishnaw (Railways, Information & Broadcasting, Electronics & IT), in the presence of Union Minister Shri Pralhad Joshi (New & Renewable Energy and Consumer Affairs), senior state officials, and top industry representatives.
The MoUs were formally exchanged between Mr. Kaxil Patel, Director and Chief Financial Officer of Rajesh Power Services Limited, and Mr. Ajay Prakash, IAS, Managing Director of Gujarat Power Corporation Limited (GPCL).
Under the agreement, Rajesh Power Services, headquartered in Ahmedabad, will execute turnkey power transmission and distribution projects to convert existing overhead High Tension (HT) power lines into underground cable networks across multiple regions in Gujarat. The initiative aims to enhance power reliability, reduce transmission losses, and create safer infrastructure in both urban and rural areas.
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