RAP Media Ltd. to Acquire 42.50% Stake in White River Properties LLP for INR 20 Crores

RAP Media Ltd. has announced an agreement to acquire a 42.50% stake in White River Properties LLP (WRPL), a real estate and property development company. The acquisition will be through direct capital contribution of INR 20 crores, with the remaining stake held by other partners. The agreement was signed on August 23, 2024, and the supplementary LLP agreement was executed on August 28, 2024. The acquisition does not fall under related party transactions and promoter/promoter group/group companies do not have any interest in WRPL. The purpose of the acquisition is to expand RAP Media's business of real estate development through new project(s).