Multibagger penny stock under Rs 75 with 9,600 per cent returns; hit upper circuit on March 20
The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 9,600 per cent in 5 years.
On Thursday, shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 73.65 per share from its previous closing of Rs 70.15 per share. The stock’s 52-week high is Rs 316.90 per share, and its 52-week low is Rs 35.01 per share.
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.
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.
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Recently, Eraaya Lifespaces Limited has initiated legal proceedings against Elara Capital PLC in the High Court of Justice, Kings’ Bench Division, England and Wales, seeking the release of USD 40 million in outstanding proceeds from Foreign Currency Convertible Bonds (FCCBs) due 2031, which were issued following an Offering Circular dated August 23, 2024, after obtaining in-principle approval from its members in the Extra-Ordinary General Meeting held on July 29, 2024. The company alleges that Elara Capital PLC, appointed to advise and assist in the FCCB issuance, is wrongfully withholding these funds, acting against the company's interests, and is claiming USD 40 million plus damages, with the financial implications pending court adjudication.
The company has a market capitalisation of Rs 1,404 crore and a 300 per cent 3-year stock price CAGR. The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 9,600 per cent in 5 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.