10:1 Stock Split & FIIs Bought 5,24,093 Shares: Software company bags order worth Rs 100 crore from ITI Ltd
The stock gave multibagger returns of 1,800 per cent in just 1 year and a whopping 22,000 per cent in 3 years.
Eraaya Lifespaces Limited's subsidiary, EbixCash, has secured a significant contract with ITI Limited, a Central Public Sector Undertaking under the Ministry of Communications, Government of India. EbixCash has been selected as the technology partner for operating and managing ITI Limited's MeitY-empanelled Data Center. This five-year contract, valued at over ₹100 crore, underscores Eraaya Lifespaces' commitment to delivering exceptional technology and data management solutions.
EbixCash's Data Centre division brings extensive experience in managing critical data centres for clients across various sectors, including BFSI, government, MNS, defence, and enterprise. The division's expertise extends to data centre design and construction, with a track record of building over 40 data centres and DR sites. For ITI Limited, EbixCash is not only managing the operations but also consulting on the development of 1,000 rack spaces, overseeing the entire process from design to implementation. The division's certifications in TIA-942 Tier-3 and ISO standards ensure robust security and high availability, making it a reliable partner for ITI Limited's data center needs.
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 the stock split was Friday, December 06, 2024.
The stock gave multibagger returns of 1,800 per cent in just 1 year and a whopping 22,000 per cent in 3 years. 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.