24,000 Per Cent Returns; 10:1 Stock Split & FIIs Bought 5,24,093 Shares: Board Allotment of Equity Shares Upon Conversion of Bonds
The stock gave multibagger returns of 2,100 per cent in just 1 year and a whopping 24,000 per cent in 3 years.
On Tuesday, shares of Eraaya Lifespaces Limited hit a 5 per cent lower circuit to Rs 188.85 per share from its previous closing of Rs 198.75 per share. The stock’s 52-week high is Rs 316.90 per share and its 52-week low is Rs 8.82 per share. The stock gave multibagger returns of 2,100 per cent in just 1 year and a whopping 24,000 per cent in 3 years.
Eraaya Lifespaces Limited has announced the allotment of 2,09,630 equity shares of Re 1 each upon the conversion of FCCBs worth USD 2,00,000. This allotment follows the subdivision of the company's equity shares from a face value of Rs 10 to Re 1 each, with the record date for this subdivision being December 6, 2024. As a result of this conversion and subdivision, the company's paid-up equity share capital has increased to INR 18,92,94,160.
Earlier, Eraaya Lifespaces Limited's subsidiary, EbixCash, secured two significant contracts totalling approximately Rs 133.5 crore. The first, a five-year, Rs 33.5 crore deal with Karnataka State Road Transport Corporation (KSRTC), involves implementing a comprehensive ticketing solution across 84 depots using over 10,000 Android-based smart ticketing machines powered by EbixCash's Automatic Fare Collection System (AFCS). The second, a five-year, Rs 100 crore contract with ITI Limited, entails operating and managing a data center, encompassing data center administration, pre-sales support, operations, maintenance, and customer relationship management. These contracts highlight EbixCash's growing influence in technology and transportation, solidifying its position as a leading provider of e-ticketing solutions and data centre services.
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About the Company
Eraaya Lifespaces, a renowned lifestyle and hospitality company, is committed to crafting unforgettable experiences worldwide. Rooted in India's rich heritage, we blend luxury, comfort, and style to create immersive environments. From curating flawless events to producing innovative content, Eraaya exceeds expectations and creates lasting memories. As we embark on a journey of expansion, Eraaya is poised to explore new business fields, driving innovation, and creating value for stakeholders. Our recent acquisition of Ebix Inc. USA marks a significant step towards diversifying our portfolio and shaping the future of business. The market capitalisation of the company is Rs 3,771 crore and an impressive 3-year stock price CAGR of 500 per cent.
Eraaya Lifespaces Limited has declared a 10:1 stock split. This means that each existing share with a face value of Rs 10 will be divided into ten new shares, each with a face value of Re 1. The ex-date for stock split was Friday, December 06, 2024.
According to the shareholding pattern as of October 2024, FIIs bought 5,24,093 shares and increased their stake to 26.31 per cent compared to 24.21 per cent in September 2024. As of October 2024, the promoters of the company own 35.17 per cent stake, FIIs own 26.31 per cent, DIIs own 1.84 per cent and the rest 36.69 per cent stake is owned by the public.
Disclaimer: The article is for informational purposes only and not investment advice.