Praxis Home Retail Rights Issue will open for subscription from 06 June 2023. the company aims for an issue size of ₹49.19 Crores through this rights Issue.
Praxis Home Retail Limited
Incorporated in 2007, Praxis Home Retail Limited operates brick-and-mortar home furniture and home fashion stores under the brand name HomeTown and caters to the home retail segment in India. The company offers office and home furniture, home furnishing goods, kitchenware, other home-related accessories such as clocks, wall hangings, and décor, and complete home design services. As on March 31, 2023, HomeTown has a pan-India presence with 43 stores, across 28 cities in India. The Company also operates a web portal www.hometown.in for online sales.
Objectives of the Issue
- To reduce the current liabilities by repaying part of outstanding trade payables
- General corporate purposes, and
- Issue-related expenses.
Praxis Home Retail Rights Issue Timetable
| Last Date to buy shares | 29 May 2023 |
| Record Date | 30 May 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 06 June 2023 |
| Renunciation of Rights Entitlements | 09 June 2023 |
| Bid/Offer Closes On | 14 June 2023 |
| Deemed Date of Allotment | 21 June 2023 |
| Credit Date | 26 June 2023 |
| Listing Date | 30 June 2023 |
Praxis Home Retail Rights Issue Details
| Issue Open | Jun 6, 2023 – Jun 14, 2023 |
| Security Name | Praxis Home Retail Limited |
| Issue Size (Shares) | 49,185,572 |
| Issue Size (Amount) | ₹49.19 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹5 per share |
| Listing At | BSE, NSE |
| Terms of Payment | |
| Entitlement | 13 Rights Equity Share(s) for every 20 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-19 | 383.55 | 683.88 | -26.94 | |
| 31-Mar-20 | 625.10 | 703.73 | -80.74 | |
| 31-Mar-21 | 397.24 | 378.68 | -103.22 | |
| 31-Mar-22 | 409.86 | 481.04 | 14.24 | |
| 31-Mar-23 | 312.36 | 395.42 | -21.01 | -17.95 |
Rights Issue Documents
Lead Manager(s)
- Prime Securities Limited
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: praxis.rights@linkintime.co.in
Website: https://linkintime.co.in/
Company Contact Information
Praxis Home Retail Limited
iThink Techno Campus,
Jolly Board Tower D,
Ground Floor, Kanjurmarg (East), Mumbai 400 042
Phone: +91 22 6882 4900
Email: investorrelations@praxisretail.in
Website: http://www.praxisretail.in
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
