Praxis Home Retail Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
PRAXIS · price
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Praxis Home Retail Limited has disclosed a minor deviation in the utilization of Rs. 4,958 Lakhs raised through a Rights Issue completed on August 26, 2025. The deviation is limited to reallocation of Rs. 7.42 Lakhs originally earmarked for Issue Related Expenses, which was instead used towards Repayment of outstanding trade payables and General Corporate Purposes. The Audit Committee reviewed and approved this statement on May 29, 2026. The company clarifies there is no deviation in the overall utilization of issue proceeds from the objects stated in the Letter of Offer.
The reallocation is minor and internally approved, indicating routine fund management within the stated objects. This is unlikely to have any significant negative impact on the stock, but shareholders should note the slight over-utilization in General Corporate Purposes (Rs. 6.48 Lakhs extra) and Trade Payables repayment (Rs. 0.94 Lakhs extra).