Reliance Power to sell Indonesian coal subsidiaries for $12 million

Anil Ambani-led Reliance Power Limited on Monday (September 29) said it has signed a share purchase agreement to divest its Indonesian step-down subsidiaries for a consideration of $12 million.

The agreement, entered into on September 29, 2025, involves Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd. (the Sellers) selling 100% equity shareholding in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi to Biotruster (Singapore) Pte. Ltd, subject to conditions precedent and other customary terms.

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The buyer does not belong to the promoter, promoter group, or group companies. The subsidiaries contributed nil income and had a net worth of ₹16,909 lakh in the last financial year, representing 0.53% of Reliance Power’s consolidated net worth. The expected completion date for the transaction is December 30, 2025, with the consideration receivable upon closing.

Reliance Power confirmed that the deal does not fall under related party transactions. The transaction also does not qualify as a slump sale. Shares of Reliance Power Ltd ended at ₹44.98, up by ₹0.22, or 0.49%, on the BSE.

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