After 10:1 Stock Split Eraaya Lifespaces Allots 2.70 Cr Fully Convertible Warrants

Eraaya Lifespaces Limited announced an increase of orders from 424 contracts previously, totalling an approximately amount of R. 5.28 Crore, illuminating contracts secured in the quarter year-to-date (YTD) to 1,392 contracts totalling Rs 30.82 Crore by December 2024. Unlike prior quarters, where the value of contracts was lesser, Q3 FY25 has seen the highest order value equating to R. 3.10 crore. Moving forward, ESESPL appears overly ambitious, wanting to secure over 700 contracts with an estimated value of Rs 10 crore, indicating confidence.

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In a notable development, Ebix Travels Private Ltd, the local arm of Eraaya Lifespaces Limited has signed a deal with the Delhi Capitals as Associated Sponsors for the 2025 T20 season for both men's and women's teams. This renewed collaboration increases Ebix's footprint in Indian cricket making use of the league's reach to further augment the brand's visibility. According to the agreement, Ebix will receive numerous branding opportunities on numerous marketing products facilitating further branding in the digital payments, financial services and technology markets.

This sponsorship illustrates Ebix's efforts to expose millions of cricket fans in India and worldwide to their brand. In further building on the partnership, Ebix expands the reach of its economic activities to Indian stakeholders, following the 2019 marketing collaboration with Delhi Capitals which established Ebix's faith in the effectiveness of sports as a marketing tool.

The company's Fund-Raising Committee in their meeting held on Saturday, January 18, 2025 considered and approved the allocation of 2,70,00,000 fully convertible warrants to the following parties: (i) M/s Just Right Life Limited: 150,00,000 Warrants; (ii) Mr. Vikas Garg: 50,00,000 Warrants; (iii) M/s Vikas Lifecare Limited: 50,00,000 Warrants; iv) Mr. P K Gupta: 20,00,000 Warrants.

Eraaya Lifespaces recently notified stock exchanges that the FCCB Committee had approved the allocation of 2.09 lakh equity shares upon conversion of USD-2,00,000 Senior Secured Foreign Currency Convertible Bonds due in 2031 with a coupon rate of 9.50%, based on the results of the FCCB Committee Meeting held today, December 10, 2024. The firm has raised its paid-up equity share capital to Rs 18,92,94,160, which is then split among 18,92,94,160 fully paid-up equity shares of Re. 1/-each.

The company had declared a 10:1 stock split and the record date i.e., December 6, 2024 fixed for subdivision of nominal value of equity shares. 20,963 equity shares of Rs. 10/- each is the request received for conversion, prior to subdivision of nominal value of equity shares and after stock split from 1 equity share of Rs. 10/- each into 10 equity shares of Re. 1/- each the allotment of 2,09,630 equity shares of Re. 1/- each on conversion of FCCBs, was finalized by the Board of Directors after giving effect of sub-division of nominal value of equity shares.

EbixCash was recently given a 33.5 crore contract by the Karnataka State Road Transport Corporation (KSRTC) to deploy an all-inclusive ticketing system for a five-year term. EbixCash Global Services ECOS, Eraaya's India-based company, had previously signed multi-year contracts totalling about Rs. 250 million annually. The FIIs who owned the company's shares have seen drastic changes as a result of the recent developments; their stake increased from 24.21% in September 2024 to about 26.31% in October 2024. At present, the public owns 36.69% stake, the promoters 35.17%, and the DIIs 1.84%.

In an additional significant development, the company's board of directors decided to completely pay up to 4,19,275 equity shares of Rs. 10 apiece to a select group of holders of Foreign Currency Convertible Bonds (FCCBs). Following BSE Limited's August 21, 2024, in-principal approval, this conversion was carried out in the FCCB Offering Circular dated August 23, 2024. As a result, on the date of this letter, the company's paid-up equity share capital was Rs 189,084,530, which was held in 1,8908453 fully paid-up equity shares of Rs 10 each.

On Tuesday, the shares of Eraaya Lifespaces Ltd were trading at a 5% lower circuit at Rs 188.85 per share with a market cap of Rs 3.57KCr.