Reliance Power Ltd to stake in entities for US$ 12 Mn

A Share Purchase Agreement have been entered between Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd. (collectively, the 'Sellers') and Biotruster (Singapore) Pte. Ltd. (the 'Buyer'), for the sale of 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 subject to certain conditions precedent and other customary terms and conditions.

The consideration to be received from the sale is USD 12,000,000 (Twelve Million United States Dollar) (receivable upon closing)

Shares of Reliance Power Limited was last trading in BSE at Rs. 44.37 as compared to the previous close of Rs. 44.98. The total number of shares traded during the day was 1745450 in over 8483 trades.

The stock hit an intraday high of Rs. 45.78 and intraday low of 44.18. The net turnover during the day was Rs. 78202437.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RPOWER ElectricUtilities Entities StakeSale BiotrusterSingapore