Praxis Home Retail Limited approves rights issue

The Board of Directors of Praxis Home Retail Limited at their meeting held today i.e. March 14, 2023, approved the raising of funds, through issuance and allotment of equity shares of face value ₹ 5 each ("Equity Shares") for an aggregate amount less than ₹ 50.00 crores (Rupees Fifty Crores), on rights basis on such terms (as decided by the Board of Directors or a duly constituted committee of the Board at a late date) to the eligible equity shareholders of the Company, as on the record dated (to be notified subsequently), subject to receipt of regulatory / statutory approvals, in accordance with the applicable laws including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI LODR Regulations, the Companies Act, 2013 and rules made thereunder, as amended from time to time and approved other related matters including delegation of powers to Committee of Directors ("COD") to implement the proposal of Rights Issue.

Shares of Praxis Home Retail Limited was last trading in BSE at Rs. 22.85 as compared to the previous close of Rs. 23.35. The total number of shares traded during the day was 1714 in over 112 trades.

The stock hit an intraday high of Rs. 23.55 and intraday low of 22.50. The net turnover during the day was Rs. 39315.00.

Source : Equity Bulls

Keywords

PraxisHomeRetail INE546Y01022 FundRaising RightsIssue