Praxis Home Retail Limited has strengthened its board governance by appointing Mr. Ravi Venkatraman as Additional Independent Director, effective December 30, 2025. The appointment was approved through a board circulation resolution passed on December 29, 2025, following the recommendation of the company's Nomination & Remuneration Committee.

Appointment Details

The key parameters of Mr. Venkatraman's appointment are outlined below:

Professional Background

Mr. Ravi Venkatraman brings extensive expertise to the board with his distinguished career spanning over four decades in the Banking, Financial Services, and Insurance (BFSI) sector. He holds qualifications as a Cost Accountant (ICWA) and Commerce graduate, providing a strong foundation for his financial expertise.

His most recent executive role was as Executive Director & Chief Financial Officer of Mahindra & Mahindra Financial Services Limited, where he served until his retirement in July 2020. During his tenure, he played a pivotal role in multiple strategic areas including corporate strategy, capital raising, governance, risk management, regulatory engagement, and technology transformation.

Key Contributions and Experience

Mr. Venkatraman was instrumental in establishing and growing several Mahindra Group financial services entities:

• Mahindra Rural Housing Finance
• Mahindra Insurance Brokers
• Mahindra Manulife Mutual Fund
• Mahindra Finance USA

As a respected board professional, he has served on boards of multiple listed and unlisted companies across diverse sectors including financial services, insurance, asset management, fintech, and banking. He continues to hold independent directorships and advisory roles, bringing valuable governance experience to his new position.

Regulatory Compliance

The appointment complies with all regulatory requirements under SEBI regulations. Mr. Venkatraman is not related to any existing directors of the company and is not debarred from holding directorship by SEBI or any other regulatory authority. His appointment as Independent Director will be subject to approval by shareholders in the company's general meeting.

Recognition and Achievements

Throughout his career, Mr. Venkatraman has received numerous national and international recognitions for excellence in finance, leadership, and corporate governance, underlining his expertise and contribution to the financial services industry.

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.