Reliance Power Ltd said it has entered into a share purchase agreement to sell its entire equity stake in five Indonesian step-down subsidiaries. The agreement, signed on September 29, 2025, involves the sale of PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.
The transaction will be executed by Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd., which together hold the subsidiaries. The buyer, Biotruster (Singapore) Pte. Ltd., is unrelated to the Reliance group.
The sale consideration is USD 12 million, payable on closing, which is expected by December 30, 2025. Reliance Power disclosed that the subsidiaries contributed no income in FY25 and had a combined net worth of Rs 16,909 lakh, accounting for 0.53 percent of the consolidated net worth.
The company confirmed that the deal is not a related-party transaction and doesn't fall outside the scope of any scheme of arrangement. The buyer does not belong to the promoter, promoter group, or group companies.
Shares of Reliance Power were trading at Rs 45.90 on Monday, up 2.55 percent. The stock hit a day’s high of Rs 45.96 and a day’s low of Rs 44.69 during the session. Year-to-date, it has gained 2.79 percent, and over the past year it has traded between Rs 31.27 and Rs 76.49.
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