2 weeks Ago
Eraaya Lifespaces share price hits 5% upper circuit at a 52-week high of ₹ 947.50 apiece on the BSE after the company announced the completion of acquisition of Ebix Inc. USA.
Eraaya Lifespaces has completed the the payment of $151.577 million ( ₹ 1,273.25 crore) for the acquisition of Ebix Inc.
USA and its global subsidiaries. With this acquisition, 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.
Ebix Inc acquisition will make way for Eraaya Lifespaces to explore new opportunities in the On‐ Demand software and E‐commerce services to the insurance, financial and healthcare industries, entertainment travel and event organizing industry. The acquisition, concluded following a successful bid in June 2024, witnessed Eraaya’s consortium emerging as the top bidder in the auction managed by the US Bankruptcy Court. The acquisition encompasses full ownership of Ebix Inc.
and its global subsidiaries, integrating all associated assets and liabilities, Eraaya Lifespaces said in a regulatory filing. The acquisition will be effectuated at an Enterprise Value of $361 million ( ₹ 3,009 crores approximately). EBIX Inc.
is a leading international supplier of On‐Demand software and E‐commerce services to the insurance, financial and healthcare industries. Eraaya Lifespaces share price history Eraaya Lifespaces share price has given multibagger returns this year as the stock has jumped 731% year-to-date (YTD). Eraaya Lifespaces shares have risen by 6,358% in one year and by a staggering 12,700% in the past three years.
The company has a market capitalisation of ₹ 1,742 crore on BSE . At 1:15 pm, Eraaya Lifespaces share price was still locked at 5% upper circuit at ₹ 947.50 apiece on the BSE.
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