The Rashtriya Loktantrik Party (RLP), floated by independent MLA and former BJP leader Hanuman Beniwal, claims to be the alternative to the BJP and Congress in Rajasthan.
Moreover, the prominent Jat leader on Monday also announced an alliance with former BJP leader Ghanshyam Tiwari and his Bharat Vahini Party (BVP) for the upcoming elections.
He said the RLP and BVP hopes to form a strong third front.
According to political experts, their alliance could be a threat to both the Congress and BJP in upcoming elections, especially in the Brahmin and Jat communities in Khimsar and Jaipur's Sanganer localities.
While Beniwal is set to please the Jat voters of West Rajasthan, Tiwari is eyeing Brahman votes.
Beniwal claims that apart from the Jat community, the party has the support of farmers and the youth.
Both Beniwal and Tiwari are former BJP leaders and have accused the Raje government of corruption.
Tiwari, a six-time legislator, quit the BJP in June after accusing Rajasthan Chief Minister Vasundhara Raje Scindhia of corruption.
Beniwal was the BJP's candidate in the 2008 state elections and was suspended from the party before the 2013 elections.
Beniwal defeated his rival and BJP candidate on the Khimvsar seat by a margin of 23,020 votes as an independent candidate.