Shares of Anil Ambani-led Reliance Power Limited were trading 3% higher on 19 August after its affiliate firm, Reliance Enterprises Private Limited (REPL), had established a joint venture (JV) company in Bhutan called GDL-Reliance Solar Pte Ltd (GRSPL).

The joint venture, created on 24 July 2025, under Gelephu Mindfulness City (GMC), a Special Administrative Region in Bhutan, is a 50:50 partnership between Green Digital Private Limited, a state-owned corporation of the Royal Government of Bhutan, and REPL.

GRSPL is a recently incorporated renewable and green energy company that has yet to begin business operations. As part of the incorporation, REPL paid cash for 2,25,000 shares of USD 100 apiece, accounting for 50% of GRSPL’s holdings. As a result, Reliance Power indirectly owns a 25% share in the company through REPL.

The company explained that the creation of this associate did not fall under the category of related-party transactions. However, the promoter firm, Reliance Infrastructure Limited, indirectly owns 25% of the share capital of GRSPL through REPL. The acquisition was completed on an arms-length basis.

At 12:05 pm, the shares of Reliance Power were trading 3.16% higher at Rs 44.65 on NSE. 

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!