Board noted subsidiary ARAPL Raas Private Limited's term sheet for INR 48 Cr fundraise from Sai Green Projects.
Post-fundraise, company's stake in subsidiary to drop from 83.54% to 42.50%, changing its status to associate.
Approved related party transactions: INR 50 Cr interest-free loan from promoters and INR 100 Cr contracts with ARAPL Raas.
Board approved convening an EGM to seek shareholder approval for the proposed transactions and fundraise.