Praxis Home Retail Limited has successfully concluded its postal ballot process on March 08, 2026, with overwhelming shareholder support for key management appointments. The company disclosed the results under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marking a significant milestone in its corporate governance structure.

Postal Ballot Results and Shareholder Participation

The e-voting process, conducted exclusively through NSDL's electronic platform, concluded at 5:00 PM on March 08, 2026. Out of 27,335 total shareholders on the cut-off date of January 30, 2026, a total of 125 shareholders from the Public-Non Institutions category participated in the voting process.

Management Appointments Approved

Shareholders approved three critical resolutions through the postal ballot process, strengthening the company's leadership structure with strategic appointments.

New CEO Profile and Experience

Mr. Shashwat Nigam brings over 18 years of experience as a seasoned P&L owner and operator, combining entrepreneurial agility with large-enterprise rigour. He has worked with Praxis Home Retail Limited's management team over the last 7 months as a consultant and part of the management advisory committee, initiating key turnaround actions including organisation restructuring, KPI-driven execution, and cash-flow prioritisation.

Prior to joining the company, Mr. Nigam led the ₹3,000 crore national retail business at Entero Healthcare, where he integrated multiple acquisitions into a unified organisation and supported the company's IPO journey. He spent 14 years with Hindustan Unilever Limited in leadership roles across modern trade, supply chain, procurement, and digital transformation. Mr. Nigam holds a post-graduate program in Management from Indian School of Business (ISB), Hyderabad and a B.Tech degree in Mechanical Engineering from IIT BHU, Varanasi.

Independent Director Appointment

Mr. Ravi Venkatraman, a Chartered Accountant (ACA), Cost Accountant (ICWA), and Commerce graduate, brings over four decades of extensive experience in the BFSI sector. He retired in July 2020 as Executive Director & Chief Financial Officer of Mahindra & Mahindra Financial Services Limited, where he played a pivotal role in corporate strategy, capital raising, governance, risk management, and regulatory engagement.

Mr. Venkatraman currently holds directorships in several listed entities including Arisinfra Solutions Limited, SBFC Finance Limited, SML Mahindra Limited, Kotak Mahindra Prime Limited, and Avanse Financial Services Limited.

Scrutinizer Report and Regulatory Compliance

Anant Gude & Associates, appointed as the scrutinizer, conducted the postal ballot process in accordance with Section 108 & 110 of the Companies Act, 2013. The e-voting facility was provided by National Securities Depository Limited (NSDL), with MUFG Intime India Private Limited serving as the Registrar & Share Transfer Agent.

The company has fulfilled all regulatory requirements under SEBI LODR Regulations, with detailed voting results made available on the company website at www.praxisretail.in . Both appointees have been confirmed as not being debarred from holding director positions by SEBI or any other authority. The appointments mark a significant milestone in the company's corporate governance and strategic direction.

Praxis Home Retail Limited has formally notified stock exchanges about the resignation of its CEO and Whole Time Director, Mr. Ashish Bhutda, marking a significant leadership change at the retail company.

Leadership Transition Details

The company disclosed the resignation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Bhutda, who holds Director Identification Number (DIN) 10810844, submitted his resignation to pursue opportunities outside the organization.

Regulatory Compliance

The resignation notification was sent to both BSE Limited and National Stock Exchange of India Limited on February 02, 2025. The company provided comprehensive documentation including the required information under SEBI regulations and attached the original resignation letter as supporting evidence.

Key regulatory details include:

• BSE Scrip Code: 540901
• NSE Symbol: PRAXIS
• Compliance: Regulation 30 of SEBI LODR Regulations 2015
• Additional Reference: SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

Resignation Communication

In his resignation email dated November 21, 2025, Mr. Bhutda addressed the board members expressing gratitude for the support and guidance received during his tenure. He assured full cooperation during the transition period to ensure smooth handover of responsibilities.

Company Confirmation

Praxis Home Retail Limited confirmed that Mr. Bhutda provided no additional material reasons for his resignation beyond those stated in his formal letter. The company has made this information available on its official website at www.praxisretail.in , ensuring transparency with stakeholders.

The notification was signed by Company Secretary and Compliance Officer Charu Srivastava, who handled the regulatory filing process. The company emphasized its commitment to maintaining proper governance standards during this leadership transition.