Praxis Home Retail: NSE Rejects Promoter Reclassification Application

Praxis Home Retail Ltd's application to re-classify certain shareholders from 'Promoter' to 'Public' category has been rejected by the National Stock Exchange of India (NSE). The NSE cited prolonged non-response to queries and clarifications as the reason for closing the application. The company was initially informed of the rejection/closure on grounds of prolonged submission. The NSE has advised Praxis Home Retail to file a fresh application with applicable fees if they wish to pursue the matter further. The company is currently evaluating its next steps.