The Anil Ambani-led Reliance Power officially stated in a regulatory filing today that it has inked a deal to divest its entire stake in five Indonesian coal subsidiaries to Singapore-based Biotruster Pte Ltd for USD 12 million.

The share purchase agreement was executed on September 29, 2025 and is subject to customary closing conditions. The transaction is expected to be completed by December 30, 2025. Reliance Power said it will receive the full amount of USD 12 million.

According to the statement, Reliance Power's step-down subsidiaries, namely Reliance Power Netherlands BV and Reliance Natural Resources (Singapore) Pte Ltd, entered into a share purchase agreement with Biotruster (Singapore) Pte Ltd. The deal involves the sale of 100% equity stakes in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi and PT Sriwijaya Bintang Tiga Energi.

According to Reliance Power, its Indonesian subsidiaries did not contribute any income during the last financial year and accounted for only 0.53% of the company's consolidated net worth, valued at Rs 16,909 lakh. Reliance Power also clarified that Biotruster Pte Ltd does not form part of its promoter group, and therefore, the transaction does not qualify as a related-party deal. The sale also does not involve a slump sale or any scheme of arrangement under Regulation 37A of SEBI’s Listing Obligations and Disclosure Requirements (LODR), the statement mentioned.

Reliance Power, which is part of the Anil Ambani-led Reliance Group, is an electricity generation company engaged in developing, constructing and operating energy projects in India and abroad. With nearly 6,000 MW of operational capacity, its portfolio spans coal, gas, hydro, and renewable energy, strategically located near fuel sources or demand centres.