Praxis Home Retail Announces 5:9 Rights Issue At Rs5 Worth Rs51.6 Crore

Board committee fixed Rs51.6 Cr rights issue at Rs5 per share in 5-for-9 ratio to holders on record Nov 18, 2026. Issue opens Nov 27, closes Dec 4, listing around Dec 7. Settles pending rights terms and advances survival funding; second rights in about a year after earlier issue, priced at face value amid negative net worth and going-concern emphasis. Expands share base by over half, easing near-term liquidity but adding heavy dilution; use of proceeds, promoter subscription and final subscription outcome not disclosed.