10:1 stock split: FIIs & DIIs took a fresh entry & collectively bought 26.11 per cent stake in this small-cap company in Q2FY25; Do you own it?
The stock gave multibagger returns of 3,680 per cent in just 1 year and a whopping 27,720 per cent in 3 years.
Stock Updates: On Thursday, shares of Eraaya Lifespaces Limited plunged 4.6 per cent to Rs 2,161.60 per share from its previous closing of Rs 2,266.60. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 57.13 per share. The stock gave multibagger returns of 3,680 per cent in just 1 year and a whopping 27,720 per cent in 3 years.
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 over Rs 4,000 crore with a 3-year stock price CAGR of 565 per cent.
Recently, EbixCash Global Services, a subsidiary of Eraaya Lifespaces, secured significant new contracts valued at Rs 250 million annually. These multi-year deals span various industries including healthcare, e-commerce, agriculture, and telecom, demonstrating EbixCash's diverse service offerings. The company will provide business operations, process management, and customer care services to clients like Tata Tele Business Services, Rozgar.com, Sahyadri Hospitals, and a major automobile organization. These contracts are expected to drive sustainable growth for Ebix and further strengthen its client base. With a current capacity of 6,000 seats across 13 centres, EbixCash boasts long-term client relationships averaging over seven years. To meet the demands of these new contracts, the company plans to expand its workforce to 11,000 by December 2025, showcasing its commitment to growth and job creation in India.
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FIIs & DIIs Fresh Entry: According to the shareholding pattern as of September 2024, FIIs & DIIs took a fresh entry in the company, FIIs bought 24.21 per cent stake whereas DIIs bought 1.90 per cent stake in the company. As of September 2024, the promoters of the company own 36.18 per cent stake and rest 37.71 per cent stake is owned by public.
stock split Update: Eraaya Lifespaces Limited proposes to subdivide/stock split in the ratio 10:1, meaning one existing equity share will be divided into ten new equity shares. The primary rationale behind this sub-division is to enhance the liquidity of the Company's shares, making them more affordable for small investors and broadening the investor base. The Company anticipates completing this sub-division process within two months from the date of board approval. This sub-division will apply to all equity shares of the Company, as there is only one class of equity shares.
Disclaimer: The article is for informational purposes only and not investment advice.