Praxis Home Retail Limited has disclosed significant operational changes involving store closures and regulatory compliance issues in its latest filing under Regulation 30 of SEBI (LODR) Regulations, 2015, dated January 12, 2026.

Store Closure Details

The company has decided to discontinue operations at two key retail locations due to operational unviability. The closure details are outlined below:

The Kolkata store represents a more significant revenue impact, contributing nearly three times more than the Hyderabad location. Despite these closures, the company's management continues to explore strategic locations for expansion to maintain competitive advantage, improve market segmentation, and enhance visibility.

BSE Regulatory Fine

BSE Limited has imposed a penalty on Praxis Home Retail for non-compliance with listing regulations. The fine details are as follows:

The company's Board of Directors allotted equity shares on a preferential basis on November 10, 2025, requiring exchange approach by November 30, 2025. However, the application was submitted on December 17, 2025, resulting in the 17-day delay. The company has characterized this delay as inadvertent and unintentional.

Regulatory Framework

The fine was imposed under Schedule XIX of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, which mandates companies to approach exchanges for listing approval within 20 days of allotment. The penalty structure follows SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, establishing ₹20,000 daily fines for such non-compliance.

Financial Impact Assessment

While the store closures will reduce the company's revenue base by over 10%, the management's strategic approach suggests a focus on operational efficiency over pure expansion. The regulatory fine, though significant, represents a one-time penalty that the company must address promptly to avoid further regulatory action. The company has been provided with specific banking details for fine payment through ICICI Bank Limited.

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.