Praxis Home Retail Ltd board approves rights issue of Rs. 50 crores

The Board of Directors ("Board") of PRAXIS HOME RETAIL LIMITED ("Company"), in its meeting held today January 29, 2021, approved the raising of funds through issuance and allotment of equity shares of face value of Rs. 5 each ("Equity Shares") for an aggregate amount of up to Rs. 50,00,00,000 (Rupee Fifty Crores) on Rights basis, on such terms as decided by the Board of Directors to the eligible equity shareholders of the Company, as on the record date to be announced later, subject to receipt of applicable regulatory / statutory approvals, in accordance with the applicable laws. The Board has authorized the Committee of Directors to proceed with Rights Issue and decide all other terms and conditions of the Rights Issue as may be required from time to time.

Shares of Praxis Home Retail Ltd was last trading in BSE at Rs.59 as compared to the previous close of Rs. 57.25. The total number of shares traded during the day was 1574 in over 40 trades.

The stock hit an intraday high of Rs. 60.1 and intraday low of 55.6. The net turnover during the day was Rs. 92179.

Source : Equity Bulls

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