Praxis Home Retail Limited amended its inter-corporate loan agreement with CMS IT Services Private Limited to revise the interest rate from 11% to 13% per annum. The change is effective from May 22, 2026, and June 23, 2026.

The company disclosed the amendment under Regulation 30 of the SEBI LODR Regulations. The revision applies to the unsecured loans availed for working capital requirements and general corporate purposes.

Loan Agreement Details

Praxis Home Retail has an outstanding loan of ₹16.5 crore against a sanctioned limit of ₹20 crore. The lender, CMS IT Services Private Limited, is not related to the promoter group or group companies.

Financial Impact

The company stated that the revised interest rate will increase its finance costs for the period during which the new rate is applicable. No other terms and conditions of the loan agreements dated May 22, 2026, and June 23, 2026, have changed.

What the Numbers Show

The interest rate hike of 2 percentage points implies a higher cost of capital for the outstanding ₹16.5 crore debt. As the loan is unsecured and short-term (6 months), this adjustment reflects current market pricing or mutual negotiation between the parties rather than a change in credit risk structure.

Praxis Home Retail Limited has scheduled its 15th Annual General Meeting (AGM) for September 25, 2026, at 11:30 am. The meeting will be conducted through video conferencing or other audio-visual means. Shareholders will vote on board appointments and a significant expansion of the employee stock option plan.

The company announced on September 3, 2026, that it has dispatched the AGM notice and Annual Report for FY25-26 electronically. This follows an earlier newspaper publication dated August 27, 2026, regarding the meeting details.

Board Appointments

Shareholders will be asked to appoint Mr. Rahul Gambhir, Mr. Chetranda Somanna Muddaiah, and Mr. Mahesh Meenakshisundaram as Independent Directors. These appointments follow their initial designation as Additional Independent Directors in June and July 2026.

Mr. Gambhir brings over three decades of leadership experience across consumer brands, including roles at Johnson & Johnson, Tommy Hilfiger, and Red Bull. Mr. Muddaiah has held leadership positions with Nicobar Design and 24Seven Convenience Stores, with prior associations with Future Group and Levi Strauss & Co. Mr. Meenakshisundaram, currently CEO of Creaticity, has around 33 years of experience in project and product-led businesses, including senior roles with HomeTown and VIP Industries.

Ms. Lynette Monteiro, a Non-Executive Director, retires by rotation and offers herself for re-appointment. She has over two decades of experience, including a long association with the Future Group since 1999.

ESOP Pool Expansion

The company seeks shareholder approval to amend the Praxis Employee Stock Option Plan – 2024. The proposal aims to increase the existing option pool from 30,00,000 options to 65,00,000 options. This involves creating an additional pool of 35,00,000 employee stock options.

As of the notice date, 29,05,000 options had already been granted under the existing plan, leaving 95,000 available. The proposed amendment adds the new pool to these remaining options. The expanded plan intends to strengthen employee engagement and align employee interests with shareholders.

Meeting Logistics

Members can cast votes via remote e-voting between September 22 and September 24, 2026. The cut-off date for voting eligibility is September 18, 2026. The Register of Members and Share Transfer Books will remain closed from September 19 to September 25, 2026, inclusive.

The AGM Notice and Annual Report are available on the company’s website and stock exchange portals. Members who have not received the documents may request a soft copy from the Company Secretary.