Loan & Debt9 Sept 2026, 06:00 pm
Praxis Home Retail Revises Loan Interest Rate to 13%
AI Summary
Praxis Home Retail Ltd has announced an amendment to its Inter-Corporate Loan Agreements with CMS IT Services Private Limited. The interest rate on unsecured inter-corporate loans, totaling ₹20 Crores, has been revised from 11% per annum to 13% per annum. This change is effective from May 22, 2026, and June 23, 2026, for the respective agreements. The total amount sanctioned is ₹20 Crores, with ₹16.5 Crores already taken and outstanding. The purpose of the loan is for working capital and general corporate purposes. This amendment does not alter other terms and conditions of the loan agreements.
Key Highlights
- Interest rate on inter-corporate loans increased from 11% to 13% p.a.
- Total loan amount sanctioned is ₹20 Crores.
- Loan is unsecured and for working capital needs.
- Amendment effective from May 22, 2026, and June 23, 2026.
Price Impact
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