Reliance Power to exit Indonesian coal units with $12 million sale

Reliance Power announced it has signed an agreement to sell its entire stake in five Indonesian coal entities to Biotruster (Singapore) Pte. Ltd. for $12 million.

Reliance Power Limited has agreed to divest its Indonesian step-down subsidiaries for $12 million with Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd. selling a 100 percent 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.

In the last financial year, Reliance Power’s subsidiaries contributed no income and had a net worth of ₹16,909 lakh, accounting for 0.53 percent of the company’s consolidated net worth. The transaction is expected to be completed by December 30, 2025, with the consideration due upon closing.

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. 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 percent, on the BSE.