Debt-free multibagger stock hit upper circuit & 52-week high as company completes monumental acquisition of Ebix Inc., Embarking on a New Era of Growth
The stock gave multibagger returns of 6,358 per cent in just 1 year and a whopping 12,700 per cent in 3 years.
On Friday, the shares of Eraaya Lifespaces Limited were locked in a 5 per cent upper circuit to Rs 947.50 per share from its previous closing of Rs 902.40. The stock also made a fresh 52-week high of Rs 947.50 and its 52-week low is Rs 15.40. stock. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.
Eraaya Lifespaces Limited is pleased to announce the successful completion of the payment of USD 151.577 Million (Rs 1273.25 crore) for the acquisition of Ebix Inc. USA and its global subsidiaries. With this landmark, the Chapter 11 proceedings for Ebix Inc. come to an end and Eraaya will be the holding company of Ebix Inc. and all its subsidiaries henceforth.
The acquisition concluded following a successful bid in June 2024, which witnessed Eraaya’s consortium emerging as the top bidder in the auction managed by the U.S. Bankruptcy Court. The acquisition encompasses full ownership of Ebix Inc. and its global subsidiaries, integrating all associated assets and liabilities at an enterprise value commensurate to USD 361 Million (Rs 3,009 crore) Approx. This milestone represents a transformative moment for both Eraaya and Ebix, heralding the start of a future brimming with exciting new opportunities.
About Ebix Inc.: Ebix Inc. is a global leader in insurance, financial, and healthcare technology, offering a wide range of solutions from infrastructure exchanges to custom software development. With a strong presence in Southeast Asia and a diverse portfolio of services, Ebix empowers businesses worldwide to thrive in the digital age.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
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 Rs 1,741.92 crore with a 5-year stock price compound annual growth rate (CAGR) of 200 per cent with debt-free status. According to Quarterly Results, the company reported net sales of Rs 2 crore in Q1FY25 and net profit increased by 1,887.5 per cent to Rs 0.95 crore in Q1FY25 compared to a net profit of Rs 0.05 crore in Q1FY24. In its annual results, the net sales increased by 1,52,311 per cent to Rs 297.20 crore and net profit increased by 341.6 per cent to Rs 0.34 crore in FY24 over FY23.
The stock gave multibagger returns of 6,358 per cent in just 1 year and a whopping 12,700 per cent in 3 years. Investors should keep an eye on this Small-Cap
Disclaimer: The article is for informational purposes only and is not investment advice.
Also Read: Mukesh Ambani’s company is likely to announce a 1:1 bonus share on September 05, 2024 after 7 years; Will you benefit?