Praxis Home Retail Board Approves ₹55 Crore Rights Issue

On 11 Sep 2026, Board approved up to Rs 55 Cr rights issue of Rs 5 shares to holders on record date to be notified, subject to approvals; committee to finalise terms. Repeat survival fundraise after prior rights issues and waivers; extends equity dependence amid negative net worth, cash burn and going-concern uncertainty. Settles pending board proposal. Ratio, price, record date, use of proceeds and promoter subscription not disclosed; subject to regulatory nods. Dilution and funding-cost pressure hinge on terms and creditor support.