By Martin Shwenk Leade
Copyright indiatimes
Reliance Power on Monday said it has signed an agreement to sell its entire stake in five Indonesian coal entities for a total consideration of $12 million.In a regulatory filing, the company said that its subsidiaries: Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd, have entered into a share purchase agreement with Biotruster (Singapore) Pte. Ltd. for the sale of 100% equity in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.The agreement was executed on September 29, 2025, and the transaction is expected to be completed by December 30, 2025, subject to customary conditions. Reliance Power will receive the full consideration of $12 million upon closing, it said.The Indonesian subsidiaries contributed no income in the last financial year and accounted for 0.53% of Reliance Power’s consolidated net worth, valued at ₹16,909 lakh.Reliance Power clarified that the buyer, Biotruster (Singapore) Pte. Ltd., does not belong to its promoter group and the deal does not fall under related party transactions.Live EventsThe sale does not involve a slump sale or any scheme of arrangement under Regulation 37A of SEBI’s Listing Obligations and Disclosure Requirements (LODR), the company added.Add as a Reliable and Trusted News Source Add Now!
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Read More News onreliance powerReliance Power divest Indonesian coal subsidiariesReliance Power subsidiaries sale agreementBiotruster Singapore PT Ltd acquisitionPT Avaneesh Coal Resources salePT Heramba Coal Resources divestmentReliance PowerBiotruster (Singapore) Pte. Ltd.SEBIsumukha coal services
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onreliance powerReliance Power divest Indonesian coal subsidiariesReliance Power subsidiaries sale agreementBiotruster Singapore PT Ltd acquisitionPT Avaneesh Coal Resources salePT Heramba Coal Resources divestmentReliance PowerBiotruster (Singapore) Pte. Ltd.SEBIsumukha coal services(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
