Vivek Biyani, a member of the promoter group of praxis home retail , has confirmed that no further encumbrance has been made on the shares of the company during the financial year ended March 31, 2026. This declaration, made on behalf of promoters and persons acting in concert, ensures the integrity of the shareholding structure remains intact for FY26.

The disclosure was submitted in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The regulation mandates an annual declaration regarding any encumbrance on shares, directly or indirectly, other than those already disclosed. The filing was addressed to BSE Limited and the National Stock Exchange of India Limited on April 09, 2026.

Shareholding Details

The declaration includes an annexure listing the shareholding of all promoter group members as on March 31, 2026. Surplus Finvest Private Limited holds the largest stake within the group at 60,23,706 equity shares, representing 3.24% of the total paid-up share capital.

Insolvency Disclosure

The filing notes that Future Corporate Resources Private Limited (FCRPL), a corporate promoter holding 0.22% of the paid-up share capital, was admitted to corporate insolvency by the National Company Law Tribunal (NCLT), Mumbai bench, on September 24, 2024. An Interim Resolution Professional has been appointed for the Corporate Insolvency Resolution Process (CIRP). Consequently, FCRPL is not construed to be acting in consonance with the rest of the promoter group, as its management and control are now with the Resolution Professional.

Praxis Home Retail Ltd has appointed Mr. Rahul Gambhir and Mr. Chetranda Somanna Muddaiah as Additional Independent Directors to strengthen its board leadership. The appointments, effective June 13, 2026, are for a term of five consecutive years ending June 12, 2031, subject to the approval of shareholders. This strategic move aims to leverage the extensive industry experience of the new directors to guide the company's growth and operational excellence.

The Board of Directors approved the appointments via a circular resolution based on the recommendations of the Nomination & Remuneration Committee. The disclosure was made to the exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that neither appointee is related to any existing directors nor debarred from holding the directorship by any regulatory authority.

Mr. Rahul Gambhir brings over 30 years of leadership experience across renowned consumer brands, including Johnson & Johnson, Tommy Hilfiger, Red Bull, Twinings, and Monster Energy. His expertise spans strategic planning, sales and marketing, business development, and turnaround management. He holds a B.Tech. from the Birla Institute of Technology and Science, Pilani, and a Post Graduate Diploma in Management (Marketing) from the Indian Institute of Management Bangalore. Currently, he advises mid-sized enterprises and technology-driven companies on growth strategy and market expansion.

Mr. Chetranda Somanna Muddaiah offers extensive operating and leadership experience in business scaling, omnichannel strategy, and organization building. He has held leadership positions at Nicobar Design, 24Seven Convenience Stores, Future Group, Bharti Walmart, Barista Coffee, and Levi Strauss & Co. He holds an MBA from Mangalore University and is currently engaged in consulting services, mentoring founder-led businesses on growth and profitability. Additionally, he manages a coffee plantation ecosystem focused on sustainable practices.

The details of the appointments, including the profiles of the directors, are available on the company's website. The information has been submitted to BSE Limited and National Stock Exchange of India Limited for their records.

Director Profiles