Update about change in investment in LLP and legal update about closure of earlier legal notice by a party to LLP
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Rap Corp Ltd's stake in White River Properties LLP (WRPL) has reduced from 42.50% to 33% after a new partner was admitted following the retirement of existing partner Sky One Realty LLP, via a supplementary deed dated June 15, 2025. WRPL is a real estate and property development LLP with NIL turnover for the last three financial years but holds land stock worth approximately Rs. 27.90 crores as on March 31, 2025. The company may invest or extend loans of up to Rs. 25 crores to WRPL in tranches, subject to applicable terms. Additionally, the earlier legal notice sent by Sky One Realty LLP (disputing another partner's share) has now become infructuous and stands closed following Sky One's complete exit from WRPL. The transaction is not a related party deal and promoters have no interest in WRPL.
This is a routine governance update with minimal financial impact — Rap Corp retains significant influence at 33% in the LLP, potential additional capital deployment of up to Rs. 25 crores is signaled, and a previously disclosed legal overhang has been resolved. Likely neutral to mildly positive for shareholder sentiment.