11,000 per cent returns: Multibagger small-cap company announces board restructuring for strategic growth of Ebix Inc., Including Robin Raina's appointment to the board
The stock gave multibagger returns of 6,765 per cent in just 1 year and over 11,000 per cent in 3 years.
Today, the shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 839.10 per share from its previous closing of Rs 799.15 per share. The stock also made a fresh new 52-week high is Rs 839.10 and its 52-week low is Rs 12.69.
Eraaya Lifespaces Limited informed that the meeting of the Board of Directors of the company is scheduled to be held on June 29, 2024, at the Registered Office of the Company to consider, inter- alia the following agenda items:
- To take the status of the Bid submitted by the company to acquire 100 per cent equity of Ebix Inc. (“Ebix”) through a plan of reorganization.
- To augment the professional governance across the organisation and to steer the Eraaya business further - as per the long-term growth plans, proposed business alliances of the Company, re-jig the core Management Team, including proposals for Mr Robin Raina and Mr Vikas Garg be taken on Eraaya Board of Directors and re-aligning the KMPs, other Senior Management Personnel.
- To propel the growth further and to augment the long-term resources of the company, issuance of securities up to USD 150 million through private placement, preferential allotment, qualified institutional placement, right issue, further public offering, in one or more trenches, or in any combination thereof.
Also Read: FIIs bought 1,95,65,217 shares of this multibagger penny stock at under Rs 80 via QIP & receivers LOC from Western Railway; Stock hit upper circuit & 52-week high
About EBIX INC.
Ebix, a leading international provider of on-demand software and e-commerce services for insurance, finance, and healthcare, offers comprehensive solutions across the insurance industry – from infrastructure exchanges and custom software development to agency systems and risk compliance. Their unique "Phygital" strategy combines a vast network of physical distribution outlets in Southeast Asia with a user-friendly online platform. EbixCash, their financial arm, is a leader in India's airport foreign exchange and remittance markets, processing billions annually. EbixCash's travel platforms Via and Mercury also solidify their dominance in Southeast Asia's travel exchange sector. With a global presence in over 8 countries, Ebix powers numerous insurance exchanges, facilitating over $100 billion in annual premiums. Their team of thousands of insurance and financial technology professionals leverages SaaS-based platforms to deliver software, products, support, and consulting services to a vast clientele across the globe.
About Eraaya Lifespaces Limited
Eraaya Lifespaces, a leading lifestyle and hospitality company, curates unforgettable experiences that blend luxury, comfort, and style. Rooted in Indian heritage, Eraaya offers unique escapes in iconic destinations and creates immersive environments beyond just living. Their commitment to excellence extends to flawless events, innovative content, and creating lasting memories. Eraaya seeks to expand its horizons through strategic acquisitions, leveraging its strong foundation and vision to explore new business ventures. This journey positions Eraaya to drive innovation, create stakeholder value, and shape the future of business in an ever-evolving market.
The company has a market cap of over Rs 1,200 crore with a 5-year stock price compound annual growth rate (CAGR) of 170 per cent. The stock gave multibagger returns of 6,765 per cent in just 1 year and over 11,000 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and is not investment advice.
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