Praxis Home Retail has witnessed significant shareholding changes as 2015 Grover Family Trust filed mandatory disclosures under SEBI's substantial acquisition regulations. The trust, acting in concert with CMS Computers Ltd, reported major equity transactions that substantially altered their collective stake in the retail company.

Transaction Overview

The shareholding changes occurred through open market transactions executed on December 8, 2025. The disclosure reveals a complex series of transactions involving both the acquisition and disposal of equity shares by the parties acting in concert.

Shareholding Pattern Changes

The transactions resulted in a significant reduction in the combined holding of the acquirer group. Prior to these transactions, the 2015 Grover Family Trust and CMS Computers Ltd collectively held 90,00,000 shares, representing 4.87% of the total voting capital.

Following the completion of these transactions, their combined shareholding has decreased to 28,83,044 shares, representing 1.56% of the total voting capital and 1.52% of the diluted share capital.

Company Capital Structure

Praxis Home Retail's equity share capital remains unchanged at 18,49,10,684 equity shares of face value ₹5.00 each, aggregating to ₹92,45,53,420.00. The total diluted share capital stands at 18,99,18,313 equity shares, aggregating to ₹94,95,91,565.00, accounting for outstanding convertible securities and warrants.

Regulatory Compliance

The disclosure was filed in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Universal Trustees Private Limited, acting as trustee for the 2015 Grover Family Trust, submitted the required documentation to both BSE Limited and The National Stock Exchange of India Limited on December 10, 2025.

The filing confirms that the acquirer group does not belong to the promoter or promoter group category of Praxis Home Retail Limited. All transactions were conducted through open market operations, ensuring transparency and regulatory compliance in the shareholding changes.

Praxis Home Retail Limited (PHRL) is currently embroiled in a significant legal dispute at the National Company Law Tribunal (NCLT), Mumbai Bench. The company has disclosed details of an Interlocutory Application filed against it, challenging a lease agreement worth ₹219.55 crore.

Legal Proceedings

The legal action has been initiated by Aegis Resolution Services Private Limited, acting as the Resolution Professional for Ojas Tradelease and Mall Management Private Limited. The case centers around a lease deed executed on March 23, 2022, which is now under scrutiny.

Lease Agreement Details

The contested lease agreement includes the following key terms:

Resolution Professional's Demands

The Resolution Professional is seeking several actions from the NCLT:

1. Declaration of the lease as onerous and detrimental to the interests of the Corporate Debtor and its creditors
2. Annulment and setting aside of the lease agreement
3. Directive for PHRL to hand over peaceful and vacant possession of the leased premises
4. Order for PHRL and other respondents to contribute ₹219.55 crore towards alleged losses and damages, along with applicable interest

Current Status and Next Steps

• The matter was heard on November 10, 2025
• The next hearing is scheduled for December 4, 2025
• PHRL is required to file its reply on the next hearing date
• The company is currently seeking legal advice to determine its course of action

Financial Implications

PHRL has stated that it is currently unable to quantify or determine the financial implications of this litigation. The company is in the process of seeking legal advice to assess the potential impact on its finances.

Disclosure Compliance

This disclosure has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. PHRL has committed to keeping the exchanges informed of any developments in this matter.

As this legal challenge unfolds, investors and stakeholders of Praxis Home Retail Limited will be closely watching the proceedings and their potential impact on the company's operations and financial standing.