8,000 per cent returns: Multibagger penny stock under Rs 65 hit upper circuit on March 05
The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 8,000 per cent in 3 years.
On March 05, 2025, shares of Eraaya Lifespaces Limited hit 5 per cent upper circuit to Rs 61.60 per share from its previous closing of Rs 58.67 per share. The stock’s 52-week high is Rs 316.90 per share and its 52-week low is Rs 28.75 per share.
Eraaya Lifespaces Limited, a leading lifestyle and hospitality company renowned for its luxurious and culturally rich experiences, is embarking on a strategic expansion. Building on its success in creating unforgettable journeys, Eraaya seeks to diversify its portfolio through mergers and acquisitions. This ambition was recently realized with the acquisition of Ebix Inc. USA and its global subsidiaries in June 2024. This significant acquisition, valued at USD 361 million, marks a pivotal moment for Eraaya as it ventures into new business domains, driving innovation and creating value for all stakeholders while navigating the dynamic and evolving market landscape.
Eraaya Lifespaces Limited has disclosed that Vikas Lifecare Limited has initiated arbitration under SEBI regulations due to a delay in repayment of USD 34.83 million, contributed by VIKASLIFE towards Eraaya's successful acquisition of Ebix, Inc. The delay stemmed from circumstances beyond Eraaya's control, specifically a delayed release of USD 40 million from their FCCB issue, for which Eraaya is pursuing recovery. Demonstrating good faith, Eraaya has consented to the appointment of a sole arbitrator while expressly reserving its rights and contentions and intends to vigorously defend its position, confident that the arbitration will clarify the situation and lead to a fair resolution.
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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 the stock split was Friday, December 06, 2024. The company has a market capitalisation of over Rs 1,100 crore and a 300 per cent 3-year stock price CAGR. The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 8,000 per cent in 3 years. As of December 2024, the company's promoters own 35.17 per cent stake, FIIs own 22.63 per cent, DIIs own 1.84 per cent and the rest 40.41 per cent stake is owned by the public.
Disclaimer: The article is for informational purposes only and not investment advice.