The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Subhash Phootarmal Rathod & Others
PRAXIS · price
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On the reaction day the stock moved 4.2 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Subhash Phootarmal Rathod along with PACs Saajan Subhash Rathod and Cromwell Enterprises Pvt. Ltd. acquired 80,40,000 equity shares (5.94% of total capital) of Praxis Home Retail Ltd through the open market on 20/05/2025. Their combined holding rose from 4.00% (54,20,026 shares) to 9.96% (1,34,60,026 shares), placing them just below the 10% regulatory threshold. The acquirers are explicitly classified as non-promoters/non-promoter group. Total equity share capital of the company stands at 13,53,30,694 shares. The acquisition was triggered for disclosure because their combined holding crossed the 5% mark.
Non-promoter buyers have quietly built a near-10% stake via open market purchases, which could be a precursor to either creeping further toward takeover triggers or building influence as a significant non-promoter shareholder. Retail investors should watch for any further acquisitions crossing 10%, which would trigger another SAST disclosure.