5001032026-09-155001032026-09-15in-capmkt:ArrangementsForStrategicOrTechnicalOrManufacturingOrMarketingTieUpMemberBHELBHARAT HEAVY ELECTRICALS LIMITED500103NOTLISTEDINE257A01026Arrangement/Adoption of new line/Closure of operations (Sub-para 2-Para B)Arrangements for strategic, technical, manufacturing, or marketing tie upNewfalse2026-09-1514:00:002026-09-15Joint Venture (JV)Titagarh Rail Systems LimitedTo form a Joint Venture Company (JVC) for comprehensive maintenance of the supplied Vande Bharat Sleeper Trainsets for 35 yearsDomesticBHEL -50%, TRSL -50%Comprehensive maintenance of supplied Vande Bharat Sleeper TrainsetsThe JVC is yet to be incorporated. The shareholding in the JVC shall be equal (50:50) between BHEL and TRSL.•Equity shareholding shall be 50% with BHEL and 50% with TRSL •The Joint Venture Company shall be incorporated as a “Private Limited” Company with an Initial paid-up share capital of INR 50,00,000 (INR Fifty Lakh only) •The registered office of the JVC shall be situated in the state of Delhi •BHEL and TRSL shall nominate Two (2) Directors each on the Board of the JVCfalseThe JVC is yet to be incorporated. The shareholding in the JVC shall be equal (50:50) between BHEL and TRSL.The JVC shall leverage the joint technical strength of both promoter companies for ensuring the operational readiness, safety and reliability of the trainsets for their entire 35-year service life.This disclosure is in continuation with the disclosure made on 19th March 2026 w.r.t. approval of Joint Venture agreement and authorisation for seeking clearance of DIPAM for formation of Joint Venture Company with M/s Titagarh Rail Systems Limited to stock exchanges.