Raktanchal is set in the 1980s of Purvanchal and is inspired by the true events. It is the story of Waseem Khan (played by Nikitin Dheer) who rules the tender mafia in Purvanchal, Uttar Pradesh, who is also involved in the smuggling of arms and ammunition. The story revolves around Vijay Singh (played by Kranti Prakash Jha) and Waseem Khan, who are constantly at loggerheads and leading to a series of bloodbaths.
Khan is challenged by the antihero Vijay Singh, who held high morals and wanted to become a civil servant until Khan's gang murdered his father Virendra Singh (played by Gyan Prakash). While Vijay is determined to take revenge of his father's murder, who was killed by Waseem's company, while Waseem is determined to hold on to his power come what may.