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 Limited , a company operating in the retail sector, has witnessed significant shareholding activity by its key stakeholders. Recent regulatory filings reveal fresh share acquisitions followed by pledging arrangements that impact the company's ownership structure.

Share Acquisition and Pledge Details

Mathew Cyriac and Elimat Advisors Private Limited have made substantial moves in Praxis Home Retail's equity. The latest disclosure under SEBI regulations reveals both acquisition and subsequent pledging of shares.

Updated Shareholding Pattern

Following the recent acquisition, the combined holding of Mathew Cyriac and Elimat Advisors Private Limited has increased significantly. The updated shareholding structure shows their enhanced stake in the company.

Company Financial Overview

To provide context for this shareholding activity, the company's financial position based on recent balance sheet data shows mixed indicators.

The company's balance sheet indicates challenging financial conditions with negative shareholders' equity of ₹61.50 crore, suggesting liabilities exceed assets. However, fixed assets have shown positive growth of 14.44% year-on-year.

Market Implications

The acquisition of 48,80,000 shares through open market purchases, followed by immediate pledging, indicates strategic financial planning by the promoter group. With the total diluted share capital standing at 18,99,18,313 equity shares, this transaction represents a meaningful addition to their existing stake.

The pledging arrangement with Catalyst Trusteeship Limited as security trustee for lenders suggests these shares serve as collateral for financing arrangements. Investors should monitor how these shareholding changes and the company's financial position may influence future business strategies and market performance.