In a significant development, Eraaya Lifespaces, a lifestyle and hospitality company, has successfully completed the acquisition of US-based EBIX Inc. The acquisition includes 100% of the equity in EBIX, as well as the assets and certain liabilities of its worldwide subsidiaries. The acquisition process was overseen by the U.S. Bankruptcy Court, and the bid submitted by the consortium led by Eraaya Lifespaces was approved as the highest and best bid for EBIX. The acquisition was finalized at an ascribed enterprise value of Rs 3,009 crore, with Eraaya Lifespaces paying a total of Rs 299 crore for the acquisition. [dbc61cac]
According to the latest update, Eraaya Lifespaces has paid Rs 466.95 crore for the acquisition of US-based Ebix, with a final payment of Rs 789.60 crore to be made in August 2024. The consortium, which includes Eraaya Lifespaces, has remitted Rs 170.58 crore on July 29, 2024. [6ab55395]
Eraaya Lifespaces is a multibagger stock that has delivered significant returns in the last three months and years. The stock has gained 103.75% in the last three months and an impressive 5917.37% in the last 365 days. [ce97341c]
