Praxis Home Retail Limited has entered into a new loan agreement with Matrix Park Private Limited to avail an additional unsecured inter-corporate loan of ₹2.50 crore. This follows a previous facility of ₹3.50 crore secured from the same lender on September 25, 2026, bringing the aggregate outstanding amount to ₹6.00 crore.

The latest agreement, executed on September 29, 2026, is intended to address the company's working capital requirements and general corporate purposes. The funds may be borrowed in one or more tranches on or before March 31, 2027. The loan carries an interest rate of 13% per annum for a tenure of six months, subject to mutual written agreement for any extension.

Loan Terms and Structure

The transaction involves borrowing funds from Matrix Park Private Limited, which acts as the lender. The nature of the debt is classified as an unsecured inter-corporate loan. No security has been provided by the borrower to the lender for this facility. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Disclosures

The company confirmed that Matrix Park Private Limited is not related to the promoter, promoter group, or group companies of Praxis Home Retail Limited. Consequently, the transactions do not fall within the purview of related party transactions requiring arm's length pricing disclosures under the relevant regulations. There are no special rights attached to these agreements, such as rights to appoint directors or restrictions on capital structure changes.

The information has been made available on the company's website. The disclosures comply with SEBI Circular SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, and the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Praxis Home Retail Limited shareholders approved the appointment of three new Independent Directors during its 15th Annual General Meeting (AGM) held on September 25, 2026. The appointments, ratified via special resolutions, extend the board’s expertise in consumer retail, business transformation, and omnichannel strategy.

The meeting, conducted via video conferencing and presided over by Chairman Ravi Venkatraman, saw the adoption of standalone financial statements for FY26 alongside these governance changes. A total of 50 members participated in the proceedings, ensuring a quorum was met.

Resolution outcomes

All ordinary and special resolutions proposed at the AGM received overwhelming support from shareholders. The voting results indicate strong alignment between the board and the shareholder base, with minimal dissent recorded across all items.

Board changes and governance updates

The shareholders approved the re-appointment of Ms. Lynette Monteiro as Non-Executive Director, who retired by rotation. Additionally, three individuals were appointed as Independent Directors for five-year terms:

• Rahul Gambhir (DIN: 02965566): Appointed effective June 13, 2026, to June 12, 2031. He brings over 30 years of leadership experience across consumer brands including Johnson & Johnson, Tommy Hilfiger, and Red Bull. Gambhir holds a B.Tech from BITS Pilani and a PGDM from IIM Bangalore.
• Chetranda Somanna Muddaiah (DIN: 11765478): Appointed effective June 13, 2026, to June 12, 2031. His background includes leadership roles at Nicobar Design, Future Group, Bharti Walmart, and Levi Strauss & Co., with expertise in omnichannel strategy and business scaling. He holds an MBA from Mangalore University.
• Mahesh Meenakshisundaram (DIN: 09796548): Appointed effective July 03, 2026, to July 02, 2031. With around 33 years of experience, he currently serves as CEO of Creaticity and has previously held senior positions at HomeTown and BP Ergo/VIP Industries. He holds a Ph.D. in Management from IBS Hyderabad.

None of the newly appointed directors are related to existing directors of the company, and none are debarred from holding office by SEBI or other authorities. The meeting also granted approval for the amendment and variation of the Praxis Employee Stock Option Plan – 2024.

Voting participation details

Voting was conducted through remote e-voting prior to the meeting and electronic voting during the AGM using the NSDL platform. The scrutinizer’s report confirmed fair and transparent vote casting.

• Total shareholders on record date: 27,205
• Total members voting: 108
• Remote e-voting participation: 102 members
• Live AGM voting participation: 6 members

Notably, promoter group members did not cast any votes during the remote e-voting period or at the live meeting. All votes polled were from public shareholders, specifically the non-institutional category. The total number of shares voted was 4,07,57,989, representing approximately 21.94% of the total outstanding shares.

What the numbers show

A distinct pattern emerges in the voting behavior: while promoters hold 13,431,493 shares, they abstained from voting on all six resolutions. Consequently, the outcome of every resolution was determined entirely by public non-institutional shareholders. Despite this concentration of voting power in the retail segment, dissent remained negligible, never exceeding 0.0027% of votes polled on any single item. This suggests either high satisfaction with board decisions among participating retail investors or low engagement levels that did not trigger significant opposition.