Praxis Home Retail has received a disclosure from Mathew Cyriac regarding a substantial acquisition under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction, completed on November 28, 2025, involves a significant restructuring of shareholding through encumbrance arrangements.

Transaction Overview

The acquisition represents a strategic restructuring of Mathew Cyriac's existing position in Praxis Home Retail Limited. Working alongside his Person Acting in Concert (PAC), Elimath Advisors Private Limited, Cyriac has maintained his total shareholding percentage while significantly altering the composition between voting and encumbered shares.

Shareholding Structure Changes

The transaction resulted in a notable shift in the composition of Cyriac's holdings, with a substantial increase in encumbered shares and corresponding decrease in voting rights.

Before Acquisition:

After Acquisition:

Transaction Details

The acquisition involved the encumbrance of 2,36,56,000 shares, representing 12.79% of the company's total equity capital. This transaction effectively converted voting shares into encumbered shares while maintaining the overall stake percentage.

Company Capital Structure

Praxis Home Retail Limited's equity capital remained unchanged following this transaction, with the company maintaining its existing share capital structure.

Regulatory Compliance

The disclosure was made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, specifically under Regulation 29(2). The transaction maintains Cyriac's position as a non-promoter substantial shareholder while restructuring the nature of his shareholding through encumbrance arrangements.

Praxis Home Retail Limited has announced the resignation of Mr. Ketan Gandhalikar, Category Head, effective from the close of business hours on January 02, 2026. The company informed both BSE Limited and National Stock Exchange of India Limited about this senior management personnel change under Regulation 30 of SEBI (LODR) Regulations, 2015.

Resignation Details

Mr. Ketan Gandhalikar, who served as Category Head and Head-Furniture Buying, submitted his resignation on October 15, 2025, citing personal reasons and better opportunities outside the company. The resignation follows proper regulatory compliance procedures as required for senior management personnel under SEBI regulations.

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Charu Srivastava signed the official communication to stock exchanges on January 03, 2026.

Mr. Gandhalikar confirmed that there are no other material reasons for his departure beyond those mentioned in his resignation letter. The resignation was addressed to Ashish Bhutda, CEO & Whole Time Director of Praxis Home Retail Limited.

Company Information

Praxis Home Retail Limited operates in the retail sector and is listed on both BSE (Scrip Code: 540901) and NSE (Symbol: PRAXIS). The company has maintained transparency in its disclosure practices by promptly informing investors about this senior management change through proper regulatory channels.