Gurugram : Sindhu Trade Links Limited (STLL), a diversified business group with interests across mining, logistics, transportation and allied businesses, has completed two strategic acquisitions with a combined value of ₹922.5 crore. The acquisitions are aimed at strengthening STLL’s integrated mining platform, expanding its asset base and capabilities across coal, mining and logistics services and infrastructure, while increasing its presence in the Indonesian coal market.
Acquires stakes in Advent Coal Resources and SMASL
STLL has acquired a 78.26% stake in Advent Coal Resources Pte. Ltd., Singapore, for a total consideration of ₹697.05 crore. It has also acquired a 50.10% stake in Sainik Mining and Allied Services Limited (SMASL), India, for ₹225.45 crore. The two transactions are expected to expand the company’s capabilities across the coal and mining value chain and strengthen its position in both domestic and international markets.
Advent Coal Resources has interests in an Indonesian coal project
Advent Coal Resources effectively owns 100% of the economic interest in a 620 million-tonne coal resource project in Indonesia. The project is being developed in East Kalimantan as an integrated coal and infrastructure project. It includes infrastructure connecting the mine through a 130-km logistics corridor to a deep-sea port and a future industrial cluster. The acquisition gives STLL an expanded presence in the Indonesian coal market while adding a significant coal resource and associated infrastructure to its asset base.
SMASL adds mining services capabilities
The acquisition of SMASL further strengthens STLL’s mining services capabilities. SMASL operates across Mine Developer and Operator (MDO) contracts, overburden removal, coal extraction and coal transportation. The company has a track record of long-term contracts and outsourced mining operations. Among its major projects is a 24-year MDO contract with National Thermal Power Corporation (NTPC) for the Dulanga Coal Mines. The Dulanga project has received several performance awards since its inception in 2017. SMASL reported revenue of ₹985 crore and EBITDA of ₹102 crore in FY 2025-26.
CEO highlights expansion across natural resources and infrastructure
Commenting on the acquisitions, Vikas Singh Hooda, CEO of Sindhu Trade Links Limited, said the transactions mark an important milestone in the company’s growth journey.
According to Hooda, the acquisitions strengthen STLL’s platform to participate in larger and more integrated opportunities across the natural resources and infrastructure sectors. He also highlighted the company’s operating capabilities, strategic assets and expanding international footprint.
The company said it intends to participate in upcoming opportunities in strategic mineral development through MDO and commercial mining, while continuing to pursue opportunities aligned with its core strengths.
Transactions completed through preferential allotments
The acquisition of Advent Coal Resources involved the allotment of 30,04,55,030 equity shares on a preferential basis. For the SMASL acquisition, STLL allotted 9,71,76,757 compulsorily convertible preference shares (CCPS), which are convertible into equity shares on a 1:1 ratio. The company said both transactions were completed after obtaining the requisite regulatory, corporate and shareholder approvals.
Strategic expansion of integrated mining platform
With the completion of the two acquisitions, STLL is expanding its exposure across coal resources, mining services, logistics and infrastructure. The company said the combination of operating capabilities, strategic assets and an international footprint will support its plans to build scale and expand its presence across the natural resources and infrastructure landscape.