Anil Ambani-led Reliance Power has announced that it will sell its Indonesian step-down subsidiaries to Singapore -based Biotruster for a consideration of $12 million. The 100% equity sale involves five Indonesian entities — PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.

Reliance Power: Contribution of Indonesian units

Reliance Power announced that the agreement was signed on September 29, and the transaction is expected to close by December 30, subject to regulatory and customary conditions. The company announced that the deal has been executed through a Share Purchase Agreement and does not fall under related-party transactions.

The Indonesian units contributed nil income durin

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