Multibagger Small-Cap Stock In Focus As Company Bags New Order Worth Rs 4,70,00,000 From U.P. Gramin Bank
The stock gave multibagger returns of 485 per cent in just 1 year and a whopping 13,400 per cent in 5 years.
Eraaya Lifespaces Limited announced that its Indian subsidiary, EbixCash Limited, has secured multi-year contracts to provide network-integrated services and manpower arrangements to three regional rural banks: Prathama U.P. Gramin Bank, Himachal Pradesh Gramin Bank, and Dakshin Bihar Gramin Bank. These banks are sponsored by Punjab National Bank. The contracts represent a significant milestone for EbixCash and Eraaya Lifespaces.
The initial contract term is for three years, with the possibility of extensions, and is valued at over INR 47 million annually (approximately Rs. 4.70 crore). This win demonstrates the confidence these rural banks have in EbixCash’s capabilities and service quality. The agreement allows EbixCash to expand its presence and commitment to underserved rural regions, a key strategic move for long-term growth.
The contracts encompass a comprehensive suite of network services and manpower solutions designed to improve operational efficiency and service delivery for the Gramin Banks. These banks are crucial for financial inclusion and economic empowerment in Uttar Pradesh, Himachal Pradesh, and Bihar. This collaboration reinforces the strategic alignment between EbixCash and the Punjab National Bank-sponsored Gramin Banks, highlighting EbixCash’s dedication to advancing financial inclusion and supporting rural economic growth. Eraaya Lifespaces emphasizes its commitment to innovation and supporting rural banking through its subsidiaries.
Earlier, Eraaya Lifespaces Limited announced that its subsidiary, EbixCash, secured a five-year, Rs 335 million contract with KSRTC to provide an Automatic Fare Collection System (AFCS) on 10,000 devices for their 8,000-bus fleet. EbixCash also won a Rs 1,000 million contract to operate and manage ITI Limited's Data Center, expanding its presence in the data center management market.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About the Company
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 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. In October 2024, FIIs bought 5,24,093 shares and increased their stake to 26.31 per cent compared to a 24.21 per cent stake in September 2024.
The company has a market capitalization of Rs 1,947 crore and a 500 per cent 3-year stock price CAGR. The stock gave multibagger returns of 485 per cent in just 1 year and a whopping 13,400 per cent in 5 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.