Praxis Home Retail Secures Loan from CMS IT Services Pvt Ltd for Working Capital Needs
Praxis Home Retail Limited has entered into a loan agreement with CMS IT Services Private Limited to fund its working capital requirements and general corporate purposes. The agreement provides up to Rs. 14.50 Crores in an unsecured, inter-corporate loan that will be disbursed in tranches on or before March 31, 2027.The transaction, formalized on June 23, 2026, details the terms of the facility between the two companies. CMS IT Services Private Limited is listed as the lender, while Praxis Home Retail Limited functions as the borrower in this arrangement. The loan carries an agreed interest rate of 11% per annum.
Currently, the company has taken and outstanding an amount of Rs. 4 crores against the sanctioned limit.
Details regarding the inter-corporate loan agreement are presented below:
| Aspect | Detail |
|---|---|
| Lender Name | CMS IT Services Private Limited |
| Borrower Name | Praxis Home Retail Limited |
| Nature of Loan | Unsecured, Inter-Corporate Loan |
| Total Sanctioned Amount | Rs. 14.50 Crores |
| Current Outstanding/Taken Amount | Rs. 4 crores |
| Date of Execution | June 23, 2026 |
Under the agreement, the initial tenure for the loan is set at 6 months and is subject to mutual written agreement should an extension be required. The parties confirmed that there are no relationships between them regarding promoter groups or related party transactions.
PRAXIS Stock Price Movement
Today, Praxis Home Retail Limited shares edged higher to close at ₹8.44, after gaining 2.43% in the post-market trading session. The stock traded with a total volume of 41,707 shares during the closed market period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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