37,000 Per Cent Multibagger Returns in Just 2 Years; Small-Cap Company Secures Major Contract Worth Rs 138.75 Crore from Punjab National Bank!
The company’s shares have delivered an impressive return of over 7,700 per cent in the past 1 year only.
Eraaya Lifespaces Limited announced that Ebix Cash Limited, its recently acquired Indian flagship subsidiary, has secured a major contract for Network Integration Services with Punjab National Bank (PNB), one of India’s top three public sector banks. The contract, valued at approximately Rs 138.75 crore, has been extended for another three years. This collaboration will continue to drive inclusive growth and enhance access to banking services across the country.
Since 2021, Ebix has been managing Punjab National Bank’s nationwide enterprise network, and we are proud to confirm that this partnership has been renewed, effective October 1, 2024. The contract covers PNB’s extensive infrastructure, including 10,800 branches, 5,000 ATMs, and 4,000 branches of PNB-sponsored Regional Rural Banks. Additionally, Ebix Cash will oversee the state-of-the-art Data Centre in Delhi, the Advanced Network Operations Centre, and the Disaster Recovery Centre in Mumbai, along with 13 zonal offices and 131 circle offices.
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To efficiently support this vast network, over 1,100 personnel, including more than 600 dedicated Ebix employees and a widespread field force, will service over 20,000 locations, providing on-site technical support, preventive maintenance, and seamless coordination.
Currently, the company’s shares are at around Rs 2895.85 and the current market capitalization stands at Rs 5323.83 crore. Additionally, the shares have delivered an impressive multibagger return of over 7,700 per cent in the past 1 year only.
According to the shareholding pattern, promoters own 36.18 per cent while the public investor holds 46.07 per cent of the company. FIIs have purchased stakes for the first time in the company and currently hold around 17.74 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.