Praxis Home Retail Rights Issue Details, Dates, Size, Allotment and more
Last Updated Date: Nov 19, 2022Let’s have a detailed review of the company and analytics of the Praxis Home Retail Rights Issue offer open date, Term of payment, Praxis Home Retail Limited Rights Issue Entitlement, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 5 |
| Issue Price | Rs 11.35 |
| Listing At | NSE, BSE |
| Min. Lot Size | [●] Eq Shares |
| Record Date | September 8, 2021 |
| Issue Size (Rs.) | Rs 4,948.54 Lakhs |
| Shares for Issue | 4,35,99,433 Eq Shares |
| Rights entitlement | 11 (Eleven) Rights Equity Shares for every 8 (Eight) Equity Shares held on the Record Date. |
Praxis Home Retail Rights Issue is listed at BSE & NSE. Check out the live share price by clicking on the below link.
Praxis Home Retail Rights Issue – Summary
Their Company operates brick and mortar stores of home furniture and home fashion in the brand name of HomeTown and caters to the home retail segment in India. This retail format brings together under one roof, a wide range of furniture (both office and home furniture), home furnishing goods, kitchenware, other home-related accessories, and quality services including complete home design, modular kitchen among others, giving customers a great in-store experience.
In addition, an exciting range of accessories, such as clocks, wall hangings, and décor make it a complete one-stop-shop for all home needs. As of June 30, 2021, HomeTown has a pan India presence with 44 stores, across 28 cities in India.
The Promoter of this company is KISHORE BIYANI AND FUTURE CORPORATE RESOURCES PRIVATE LIMITED. The lead manager to the issue is VIVRO FINANCIAL SERVICES PRIVATE LIMITED, and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.
Praxis Home Retail Rights Issue Date
The opening and the closing date of the IPO of Praxis Home Retail Limited are September 21, 2021 and October 5, 2021 respectively.
Praxis Home Retail Rights Issue Allotment Status
Here, you can find the Allotment Status of this Right Issue.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Praxis Home Retail Rights Issue Dates
Find the dates below on basis of allotment, record, listing, and more:
| Issue Opening Date |
September 21, 2021 |
| Last date for on-market renunciation of rights / Date of closure of trading of Rights Entitlements | September 30, 2021 |
| Issue Closing Date | October 5, 2021 |
| Finalizing the basis of allotment with the Designated Stock Exchange | October 12, 2021 |
| Record date | September 8, 2021 |
| Date of Allotment | October 12, 2021 |
| Credit of Shares to Demat Account | October 13, 2021 |
| Share Listing Date | October 18, 2021 |
Praxis Home Retail Rights Issue Price
The face value of each share is Rs.5, but the Cash Price is Rs. 11.35 per Eq share.
Praxis Home Retail Rights Issue Equity Size
This Initial Public Issue of 4,35,99,433 Equity Shares of Rs.5 each for cash at a price of Rs. 11.35 per equity share aggregating to Rs 4,948.54 Lakhs.
Praxis Home Retail Rights Issue – Live Performance
The listing date of this IPO is October 18, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Praxis Home Retail Share Price |
Praxis Home Retail Rights Issue – Company Overview
Their Company also operates a web portal for online sale of their products through the website www.hometown.in and also has its presence on the major e-commerce marketplaces in India through which their Company sells a wide range of products across furniture, furnishings, décor, tableware, and kitchenware.
Their business is consumer-driven. Praxis Home Retail’s Promoter Kishore Biyani brings to their Company his vision and leadership which has been instrumental in their success. Their experienced professional management team has helped them to offer high standards of customer service and a pleasant shopping experience.
Praxis Home Retail’s management team consists of a team of professionals with relevant domain expertise and retail-oriented functional specializations. Further, their management team has been able to complement their expansion with the ability to create adequate systems and processes.
Their management team is complemented by a committed workforce that enables them to operate, synergize, and integrate their front-end and back-end operations efficiently. Their human resources policies aim to create an engaged and motivated workforce, which is essential for their success. They believe in continuous development and have invested in their employees through regular training programs to improve skills and service standards, enhance loyalty and increase productivity
Praxis Home Retail Rights Issue – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||
| 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 39,724.46 | 62,510.40 |
| *Total Revenue | 37,867.53 | 70,372.76 |
| Total Expense | 48,191.05 | 78,445.21 |
| Profit After Tax | (10,332.16) | (8,073.83) |
Earnings per Equity Share (in Lakhs)
| 31-Mar-21 | 31-Mar-20 | |
| Basic | (36.61) | (32.24) |
| Diluted | (36.61) | (32.24) |
Financial Performance:
Their total revenue for Fiscal 2021 was Rs 37,867.53 lakhs as compared to Rs 70,372.76 lakhs for Fiscal 2020, representing a decrease of 46.19%.
Other income for Fiscal 2021 was Rs 6,557.95 Lakhs as compared to Rs 33.13 Lakhs for Fiscal 2020, representing an increase of 19694.60%. The increase in other income was primarily due to write back of liabilities, reversal of Right to use assets for the stores closed during the Fiscal 2021 & the rent rebate obtained during Fiscal 2021 from the various lessors on account of COVID 19 impact.
Their total expenditure for Fiscal 2021 was Rs 48,191.05 Lakhs as compared to Rs 78,445.21 Lakhs for Fiscal 2020, representing a decrease of 38.57%.
Praxis Home Retail Rights Issue – Promoters
The Promoters of this company are:
- KISHORE BIYANI
- FUTURE CORPORATE RESOURCES PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Mahesh Shah, Additional Director designated as Managing Director
- Shrirang Sarda, Non-Executive Non-Independent Director
- Avni Biyani, Non-Executive Non-Independent Director
- Harminder Sahni, Additional Independent Director
- Jacob Mathew, Additional Independent Director
- Anou Singhvi, Additional Independent Director
Praxis Home Retail Rights Issue Details
| Particulars | Details of Equity Shares |
| Equity Shares proposed to be issued | Up to 4,35,99,433 Equity Shares |
| Rights Entitlement | 11 (Eleven) Rights Equity Shares for every 8 (Eight) Equity Shares held on the Record Date |
| Record Date | September 8, 2021 |
| Issue Price per Rights Equity Shares | Rs.11.35 /- |
| Issue Size | Up to Rs 4,948.54 lakhs |
| Equity Shares issued, subscribed, and paid up prior to the Issue | 3,17,13,897Equity Shares of Rs 5 each |
| Equity Shares subscribed and paid up after the Issue | 7,53,13,330 Equity Shares of Rs 5 each |
Praxis Home Rights Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To reduce the current liabilities by repaying part of their outstanding trade payables;
2. To repay certain unsecured loans availed by their Company; and
3. General corporate purposes.
Praxis Home Retail – Business Strategy
- Increasing their consumer base through consumer loyalty and expansion of their operations
- Continue improving their operating efficiency and supply chain management
- Expand their product portfolio and prioritize customer satisfaction through optimal product assortment
- Continue to develop talent and skilled workforce and inculcate good business practices
- Advanced and scalable technology for the online retail segment
Praxis Retail Rights Issue Lead Managers
| Lead Managers |
| VIVRO FINANCIAL SERVICES PRIVATE LIMITED 607/608 Marathon Icon, Opp. Peninsula Corporate Park, Off. Ganpatrao Kadam Marg, Veer Santaji Lane, Lower Parel, Mumbai – 400 013, Maharashtra, India. Telephone: +91 22 6666 8040/41/42; Email: praxis.rights@vivro.net Investor Grievance Email: investors@vivro.net Website: www.vivro.net Contact Person: Yogesh Malpani SEBI Registration No.: INM000010122 |
Praxis Home Rights Issue Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, LBS Marg, Surya Nagar, Gandhi Nagar Vikhroli (West), Mumbai – 400 083, Maharashtra, India. Telephone: +91-22-49186200 E-mail: praxis.rights@linkintime.co.in Investor grievance E-mail: praxis.rights@linkintime.co.in Website: www.linkintime.co.in Contact Person: Sumeet Deshpande SEBI Registration No.: INR000004058 |
Praxis Home Rights Issue – Other Details
- Statutory Auditor – M/s Pathak H. D. & Associates LLP, Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Subscribe to Praxis Home Retail Rights Issue
Praxis Home Retail Limited Rights Issue News
News 1 – Praxis Home Retail Rights Issue Draft Download
News 2 – Praxis Home Retail Rights Issue Letter of Offer
Praxis Home Retail Rights Issue Review FAQs
Where to download Praxis Home Rights Issue letter of offer?
This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Praxis Home Retail Company shares. You will find a news section towards the end of the page, and the link which would redirect you to the letter of offer.
Where to download the Application Form for Praxis Home Rights Issue?
Application forms of Praxis Home Retail Rights Issue can be obtained via multiple destinations. You can seek out the exchange or company or the registrar’s official websites. Furthermore, you may download the form, fill it up, and then choose the either online or offline mode to submit it.
How to check Praxis Home Rights Issue allotment date?
They are highly oriented to provide you with end-to-end details of the Praxis Home Retail Rights Issue. Hence, they urge you to check out the page precisely for the allotment date. They will find a sub-section on the page, namely Rights Issue Dates, which features all necessary dates.
What is the Praxis Retail Rights Issue price per share?
Rights issue is generally an offer made to shareholders at a price lower than the market price. Hence, as per the offer made in the Letter of Offer, the company proposes to sell shares at Rs.11.35 per Equity Share through Praxis Home Retail Rights Issue.
Who is the registrar to Praxis Retail Rights Issue?
Registrar, as chosen by Praxis Home Retail is LINK INTIME INDIA PRIVATE LIMITED. You can refer to this article which furthermore contains all the details of the registrar. Scroll towards the end of the page to find the registrar’s address, contact person, and email id information.
When the Praxis Home Rights Issue is opening?
They collected all the scattered data from the Letter of Offer for their readers, to make it easy for them to easily locate the required details. As per the offer stated, the Praxis Home Retail Rights Issue is all set to open on September 21, 2021.
When the Praxis Home Rights Issue is closing?
While the offer would open on September 21, 2021, it is most likely scheduled to close on October 5, 2021. This would be the last day you can bid for the shares, being an eligible shareholder. Check the article for more insights on the Praxis Home Retail Rights Issue.
What is the Praxis Home Retail Issue size?
Praxis Home Retail Rights Issue is a proposal to raise 4,35,99,433 Equity shares, aggregating to Rs 4,948.54 Lakhs, from the existing shareholders. You can furthermore refer to the topmost table of this article to check out other crucial statistics such as Minimum Lot size, record date, RE, Face value, and more.
Who is the Praxis Home Retail Lead manager?
A designated underwriter or lead manager of Praxis Home Retail Rights Issue is VIVRO FINANCIAL SERVICES PRIVATE LIMITED. They also provide you with the information you need about the lead manager, such as an address, contact person, email address, and more. Such data is structured towards the end of the article.
What are the important dates of the Praxis Home Issue?
There are a bunch of important dates regarding the Praxis Home Retail Rights Issue, which you need to know about. The priority should be the Record Date of September 8, 2021., which deems you eligible for investment. The rest of the dates include opening, closing, allotment, listing, and more, which are all provided in the section Rights Issue Dates.
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Market Guide
Featured Topics