Statement of Deviation & Variation for the quarter ended on March 31, 2026
PRAXIS · price
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Praxis Home Retail Ltd has filed a statement of deviation in utilization of funds raised through a Rights Issue. The company raised Rs. 4,958.00 Lakhs (approximately Rs. 49.58 crore) via a Rights Issue with allotment dated August 26, 2025. A minor deviation was reported where Rs. 7.42 Lakhs originally allocated for Issue Related Expenses was reallocated towards Repayment of outstanding tradepayables (Rs. 0.94 Lakhs extra) and General Corporate Purposes (Rs. 6.48 Lakhs extra). The Issue Related Expenses allocation was reduced from Rs. 104.54 Lakhs to Rs. 97.12 Lakhs. The Audit Committee reviewed and approved this deviation at its meeting held on May 29, 2026. The company clarified there is no deviation in the overall utilization of issue proceeds from the stated objects in the Letter of Offer.
The deviation is minor and represents only a reallocation between line items within the approved objects. Shareholders should note that the funds continue to be used for the stated purposes of reducing liabilities and general corporate needs, with no change in the overall deployment of Rs. 4,958 Lakhs.