Praxis Home Retail Limited has disclosed the outcome of its application for reclassification of certain shareholders from 'Promoter' category to 'Public' category under Regulation 31A of SEBI LODR Regulations.
The application was initially submitted on June 09, 2025 and subsequently resubmitted on August 12, 2026. The National Stock Exchange of India Limited (NSE) rejected/closed the application on the grounds that it had been closed due to prolonged submission. The NSE reference number for this matter is NSE/LIST/PRAXIS/497/2026-2027.
The rejection was based on the company's failure to address queries and clarifications raised by the Exchange despite multiple follow-ups. The NSE specifically stated that "queries/clarifications raised by the Exchange have remained unaddressed despite multiple follow ups."
The application sought reclassification of 14 promoter/promoter group entities:
- Avni Kishorkumar Biyani
- Sangita Kishore Biyani
- Ashni Kishore Biyani
- Anil Biyani
- Kishore Biyani
- Laxminarayan Bansilal Biyani
- Vijay Biyani
- Vivek Biyani
- Gopikishan Biyani
- Rakesh Biyani
- Sunil Biyani
- Future Corporate Resources Pvt Ltd
- Surplus Finvest Private Limited
- Akar Estate and Finance Private Limited
The NSE informed the company that if it intends to pursue the matter further, it may file a fresh application along with complete set of requisite documents and applicable fees. The company is currently evaluating the next course of action regarding the proposed reclassification.
The disclosure was signed by Charu Srivastava, Company Secretary and Compliance Officer (ACS No. 27108) on August 18, 2026. The NSE communication was signed by Ajit Mahadik, Senior Manager – Listing Compliance, and was copied to National Securities Depository Limited and Central Depository Services Limited.
Financial impact not quantified in the disclosure.