From Rs 26.29 to Rs 1,620.20 per share: Debt-free multibagger stock hit 15 consecutive upper circuits & 52-week highs!
The stock gave multibagger returns of 6,063 per cent in just 1 year and a whopping 21,800 per cent in 3 years.
On Friday, the shares of Eraaya Lifespaces Limited were locked in a 5 per cent upper circuit to Rs 1,620.20 per share from its previous closing of Rs 1,543.05. The stock also made a fresh 52-week high of Rs 1,620.20 per share and its 52-week low is Rs 26.29 per share. stock. In the recent trading sessions, the stock has been hitting back-to-back upper circuits (the 15th upper circuit today).
Recent Update
In a significant development, Ebix Inc., a global leader in software and e-commerce services, has successfully exited bankruptcy proceedings and embarked on a new chapter. The company has been acquired by Eraaya Lifespaces Ltd., a publicly listed entity on the Bombay Stock Exchange (BSE). This acquisition marks a turning point for Ebix, as it becomes debt-free and can concentrate on expanding its business operations. Despite filing for bankruptcy in January, Ebix continued to operate normally. Eraaya's investment will not disrupt the company's day-to-day operations.
Ebix Plans for Growth and Expansion
Ebix intends to leverage its expertise in software development, distribution, and global regulatory compliance to drive growth. The company aims to attract more investors from around the world. Founder Robin Raina will continue to lead Ebix as Chief Executive Officer and Chairman and has also been appointed as Chairman of the Board for Eraaya Lifespaces Ltd. The successful completion of the acquisition has led to the formation of a high-power steering committee to oversee Ebix operations and ensure effective integration. To bolster its financial resources, Eraaya Lifespaces plans to raise up to Rs 1,028.7 crore through a preferential issue of compulsorily convertible warrants. These warrants will be convertible into equivalent numbers of equity shares.
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About Eraaya Lifespaces Limited: As a premier lifestyle and hospitality company, Eraaya Lifespaces is dedicated to crafting unforgettable moments that blend luxury with India's rich heritage. The company portfolio offers a diverse range of experiences, from exquisite events and innovative content to luxurious accommodations and immersive cultural encounters. Eraaya is seeking to thrive, expansion beyond its current scope as a strategic option embracing new business fields presents a promising avenue for growth, diversification, and sustained relevance in an ever‐evolving market. Eraaya has set its sights on exploring new business fields, driven by a vision to expand its horizons and unlock fresh opportunities via mergers and acquisitions of a varied bunch of businesses.
The company has a market cap of Rs 2,979 crore with a 3-year stock price CAGR of 500 per cent with debt-free status. According to Quarterly Results, the company reported net sales of Rs 2 crore in Q1FY25 and net profit increased by 1,887.5 per cent to Rs 0.95 crore in Q1FY25 compared to a net profit of Rs 0.05 crore in Q1FY24. In its annual results, the net sales increased by 1,52,311 per cent to Rs 297.20 crore and net profit increased by 341.6 per cent to Rs 0.34 crore in FY24 over FY23.
The stock gave multibagger returns of 6,063 per cent in just 1 year and a whopping 21,800 per cent in 3 years. Investors should keep an eye on this Small-Cap
Disclaimer: The article is for informational purposes only and is not investment advice.
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