10:1 Stock Split: Multibagger Small-Cap Stock Jumps After Company share the Business Outlook Report of its Indian Subsidiary - EbixCash

The stock gave multibagger returns of 2,500 per cent in just 1 year and a whopping 26,700 per cent in 3 years.

On Monday, shares of Eraaya Lifespaces Limited surged 2.94 per cent to Rs 1,994.50 per share from its previous closing of Rs 1,937.60 per share with a 2.10 times spurt in volume. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 78.33 per share. The stock gave multibagger returns of 2,500 per cent in just 1 year and a whopping 26,700 per cent in 3 years.

EbixCash, a subsidiary of Eraaya Lifespaces Limited, has announced impressive results for the second quarter of the fiscal year 2024-25. The company's Foreign Exchange Division achieved a significant milestone, surpassing a Gross Merchandise Value (GMV) of Rs 7,762 crore and generating a gross revenue of approximately Rs 180 crore. This growth is attributed to increased demand from students and corporate clients, as well as strategic partnerships with leading corporations and educational institutions.

EbixCash is actively expanding its operations in both the foreign exchange and domestic payments sectors. In the foreign exchange segment, the company has introduced the One World Globetrotter Travel Card, which offers customers the convenience of making global purchases without incurring cross-currency fees. Additionally, EbixCash is expanding its distribution network by adding new airports and branches in key cities, aiming to penetrate deeper into the retail, corporate, and student markets. In the domestic payments sector, EbixCash has introduced a new UPI handle for Android users, facilitating seamless payments and financial inclusion for credit societies. The company is also integrating UPI services at airport counters for foreign nationals, promoting cashless transactions and enhancing the overall travel experience.

About Ebix Group: EBIX Inc. is a global leader in on-demand software and e-commerce solutions, serving the insurance, financial, and healthcare industries. With a strong presence in 32 international airports and over 320,000 physical distribution outlets in Southeast Asia, EBIX processes over USD 100 billion in insurance premiums annually and facilitates approximately USD10 billion in annual remittance transactions. The company's diverse portfolio includes foreign exchange, travel, and financial services, serving millions of customers worldwide through its 50+ offices and robust digital platforms.

Additionally, 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 Board fixed the record date for the stock split as Friday, December 06, 2024.

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.

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.