Shares of Reliance Power Ltd were trading in the green 2% higher on 29 September, after the company announced inking an agreement with Biotruster. 

Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd signed an agreement with Biotruster (Singapore) Pte. Ltd to sell 100% equity in five Indonesian coal entities — PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.

The transaction is valued at $12,000,000, according to the exchange report. The buyer is not a member of the promoter, promoter group, or group firms.

Aside from that, Reliance Infrastructure and Reliance Power clarified on 19 September 2025 that the Central Bureau of Investigation’s (CBI) chargesheets against Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), and group chairman Anil Ambani will have no impact on their business operations.

“There is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure [and Reliance Power] due to the recent action by CBI on RCFL, RHFL and Anil Ambani,” the companies said in separate BSE filings.

The development occurred after the CBI filed chargesheets claiming fraudulent transactions involving Anil Ambani’s group firms (RCFL and RHFL), Yes Bank, and entities belonging to the family of former Yes Bank CEO Rana Kapoor. The agency claimed that the bank lost Rs 2,796 crore due to the transactions.

YES Bank invested approximately Rs 5,000 crore in RCFL and RHFL debt instruments in 2017, despite rating agency concerns. In exchange, the Ambani group allegedly supplied financing at concessional rates to loss-making firms owned by Rana Kapoor’s family.

Reliance Infra and Reliance Power, however, contended that the transactions referenced by the CBI are “over 10 years old” and that both RCFL and RHFL “have been fully resolved with a change in management pursuant to Supreme Court judgments in 2022 and 2023, through separate lender-driven processes led by Bank of Baroda under an intercreditor arrangement in line with RBI regulations.”

At 1:08 pm, the shares of Reliance Power were trading 1.50% higher at Rs 45.43 on NSE.

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