Loan & Debt29 Sept 2026, 06:42 pm
Praxis Home Retail Secures ₹2.5 Cr Unsecured Loan
AI Summary
Praxis Home Retail Limited has entered into a Loan Agreement with Matrix Park Private Limited for an unsecured loan not exceeding ₹2.50 Crore. The loan is intended for working capital requirements and general corporate purposes. The funds are to be availed on or before March 31, 2027. This new loan, combined with a previous loan of ₹3.50 Crore from the same lender dated September 25, 2026, brings the aggregate amount availed from and outstanding to Matrix Park Private Limited to ₹6.00 Crore. The loan carries an interest rate of 13% per annum for an initial period of 6 months, with potential for extension.
Key Highlights
- Praxis Home Retail obtains ₹2.5 Cr unsecured loan.
- Loan purpose: working capital and general corporate needs.
- Total outstanding loan from Matrix Park now ₹6.00 Cr.
- Interest rate is 13% per annum for 6 months.
- Loan to be availed by March 31, 2027.
Price Impact
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