Mangal Bhanshali, a significant shareholder in Praxis Home Retail Ltd. , has reported a change in his shareholding percentage following a rights issue by the company. The alteration in stake comes as a result of an increase in the company's total equity share capital, rather than a sale of shares by Bhanshali.

Shareholding Details

Prior to the rights issue allotment on August 26, 2025, Bhanshali held 1,75,47,494 shares, which represented 12.98% of the company's voting capital. Following the allotment of 4,98,00,000 rights equity shares, Bhanshali's holding percentage decreased to 9.49% of the voting capital, while maintaining the same number of shares.

Rights Issue Impact

The rights issue has led to a significant expansion of Praxis Home Retail's equity base. The company's total equity share capital after the rights issue now stands at 18,49,15,902 shares, up from 13,51,15,902 shares before the issue.

Disclosure and Compliance

In compliance with regulatory requirements, Bhanshali filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure, dated September 6, 2025, was submitted to the Bombay Stock Exchange, detailing the change in shareholding due to the corporate action.

Key Points

It's worth noting that Bhanshali is not part of the promoter group of Praxis Home Retail Ltd. The company's shares are listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

This change in percentage holding, resulting from the dilution effect of the rights issue, underscores the impact of corporate actions on individual shareholding proportions, even when the absolute number of shares held remains constant.

Praxis Home Retail Limited (PRHL) has announced the completion of dispatch for its upcoming rights issue, marking a significant step in its efforts to raise up to ₹49.58 crore. The company, which operates in the home retail sector, is offering equity shares to existing shareholders in a move that could substantially bolster its financial position.

Rights Issue Details

PRHL has finalized the dispatch of the abridged letter of offer and application forms for its rights issue. The company is offering equity shares with a face value of ₹5.00 each at an issue price of ₹10.00 per share. The rights issue is structured in the ratio of 11 rights equity shares for every 30 fully paid-up equity shares held by eligible shareholders.

Key dates for the rights issue are as follows:

• Record Date: March 20, 2025
• Issue Opening Date: August 7, 2025
• Issue Closing Date: August 18, 2025

Dispatch Completion and Accessibility

The company completed the dispatch of rights issue documents on August 2, 2025, using both email and speed post methods. This ensures that shareholders have ample time to review the offer and make informed decisions.

For shareholders who may not have received the application forms, PRHL has made provisions for easy access. The forms can be obtained from:

• The company's website
• The registrar's website
• Lead managers' websites
• Stock exchange websites

Application Process

PRHL has outlined detailed procedures for application submission, emphasizing the use of the ASBA (Application Supported by Blocked Amount) facility for payments. The company has also provided options for eligible shareholders to renounce their rights entitlements if they choose not to participate.

Significance of the Rights Issue

This rights issue represents a strategic move by Praxis Home Retail Limited to strengthen its capital base. The funds raised could potentially be used for various purposes such as expansion, debt reduction, or working capital requirements, although the specific use of proceeds has not been detailed in the available information.

Investor Considerations

Eligible shareholders are advised to carefully review the offer documents and consider their investment objectives before participating in the rights issue. The offer provides an opportunity for existing shareholders to increase their stake in the company at a predetermined price.

As the retail sector continues to evolve, particularly in the home segment, this capital raise could position PRHL to capitalize on market opportunities and enhance its competitive stance.

Investors and market watchers will be keenly observing the response to this rights issue, as it could provide insights into shareholder confidence and the company's future prospects in the dynamic retail landscape.