Rap Corp has received board approval to acquire 9960 equity shares of Rs 10 each constituting 49.90% of the paid-up capital of Platinumcorp Value Sheltors (PVSPL) to expand its business of real estate development through new projects. In this regard, the company has signed necessary definitive documents with PVSPL and its shareholders. The cost of the acquisition is Rs 99,600 and is expected to be completed within 30 to 45 days.
The board has also approved that the company, may, in one or more tranches, invest or extend loan to PVSPL or other companies, within the limits approved by the shareholders of the company in accordance with applicable laws.
Rap Corp (Formerly RAP Media) is a real estate development organization focusing on conceptualising, designing, creating and management of world-class shopping malls-cum-multiplexes.
