6th Consecutive Upper Circuits in This Multibagger Penny Stock Under Rs 80; Receives Trading Approval of 14,00,000 Equity Shares from Stock Exchange
The stock gave multibagger returns of 155 per cent in just 1 year and a whopping 10,000 per cent in 3 years.
On Wednesday, shares of Eraaya Lifespaces Limited hit 5 per cent upper circuit to Rs 78.57 per share from its previous closing of Rs 74.83 per share. The stock’s 52-week high is Rs 316.90 per share, and its 52-week low is Rs 31.10 per share. The stock has been hitting 6th consecutive upper circuits.
Eraaya Lifespaces Limited (formerly Justride Enterprises Limited) has announced that trading approval has been granted by the BSE for 14,00,000 newly issued equity shares (distinctive numbers 189294161 to 190694160), effective March 12, 2025, as per BSE Trade Notice 20250311-16. These shares resulted from the conversion of warrants, originally issued at Rs 81 each under SEBI ICDR 2018, allowing each warrant to be converted into one equity share of Re 1 within 18 months. The newly allotted equity shares, subject to a stipulated lock-in, will rank equally with existing shares, increasing the company's issued and paid-up capital to Rs 19,06,94,160, comprising 19,06,94,160 equity shares of Re 1 each.
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.
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According to Quarterly Results, the net sales increased by 3,584 per cent to Rs 666.11 crore and net profit increased by 130 per cent to Rs 0.53 crore in Q3FY25 compared to Q3FY24. Recently, in the exchange filing, the company disclosed that the promoters of the company have acquired 14 lakh shares on the conversion of warrants. 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.
The company has a market capitalisation of Rs 1,498 crore and a 300 per cent 3-year stock price CAGR. The stock gave multibagger returns of 155 per cent in just 1 year and a whopping 10,000 per cent in 3 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.