7th Consecutive Upper Circuit In This Multibagger Small-Cap Stock; Board Approved The Allotment Of 2,70,00,000 Fully Convertible Warrants
The stock gave multibagger returns of 756 per cent from a 52-week low of Rs 15.31 per share.
On Monday, shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 131.05 per share from its previous closing of Rs 124.85 per share. The stock’s 52-week high is Rs 316.90 per share and its 52-week low is Rs 15.31 per share. The stock gave multibagger returns of 756 per cent from a 52-week low of Rs 15.31 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.
Eraaya Lifespaces approved the allotment of 2,70,00,000 fully convertible warrants to four entities: Just Right Life Limited (1,50,00,000 warrants), Mr Vikas Garg (50,00,000 warrants), Vikas Lifecare Limited (50,00,000 warrants) and Mr P K Gupta (20,00,000 warrants). Each warrant holder has the right to subscribe to one equity share per warrant after paying 25 per cent of the issue price, as per the SEBI ICDR Regulations, 2018.
Earlier, Eraaya Lifespaces announced that its subsidiary, EbixCash, has secured two significant contracts. Firstly, EbixCash has won a Rs 335 million contract with the Karnataka State Road Transport Corporation (KSRTC) to provide an Android-based ticketing solution with digital payment options. Secondly, EbixCash has been selected as the Technology Partner for ITI Limited's Data Center, a prestigious contract valued at approximately Rs 1,000 million, further solidifying its position in the data centre management market.
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About the Company
Eraaya Lifespaces is a premier lifestyle and hospitality company renowned for curating unforgettable experiences worldwide. Rooted in Indian heritage and a passion for excellence, Eraaya blends luxury with cultural immersion, offering unique escapes and crafting flawless events. While a leader in its current domain, Eraaya seeks to expand its horizons through strategic acquisitions. This vision led to the successful acquisition of Ebix Inc. USA and its global subsidiaries in June 2024, a significant step in Eraaya's journey of diversification and growth into new business fields. This acquisition, valued at USD 361 Million, marks a pivotal moment for Eraaya as it embarks on this transformative journey, poised to drive innovation and create value for stakeholders in a dynamic and evolving market.
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. In October 2024, FIIs bought 5,24,093 shares and increased their stake to 26.31 per cent compared to a 24.21 per cent stake in September 2024.
With a market capitalization of Rs 2,480 crore and a 500 per cent 3-year stock price CAGR, Eraaya is expanding into new ventures, including the recent acquisition of Ebix Inc. USA. The stock gave multibagger returns of 740 per cent in just 1 year and a whopping 15,882 per cent in 3 years. As of October 2024, the company's promoters 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.