Corporate Development     

Published: November 30, 2024
Updated: November 30, 2024

Eraaya Lifespaces Ltd

December 06 set as record date for 1:10 stock split

Erayaa Lifespaces Limited (BSE: 531035) has announced that its board has set December 06, 2024 for its 1:10 stock split i.e. sub-division/split of 1 Equity Shares of the Company each into 10 Equity shares of the company.

Earlier, the company’s subsidiary had successfully secured multi-year contracts with an “Annual Contract Value” of INR 250 Million (Approx). These contracts encompass Business Operations, Process Management, and Customer Care Services across various sectors, including Healthcare, E-Commerce, Agriculture, Banking, Financial Services and Insurance (BFSI), and Telecom. The recently secured contracts by EbixCash Global Services include:

Telecom Sector: ECGS will be facilitating Tata Tele Business Services, enhancing the Sales & Customer Service operations.

E-Commerce Sector: Improving the user experience and transaction efficiency for Rozgar.com and leveraging AI Technology for sales and customer service in personalized cosmetic products while teaming up the leader in the DTC E-Commerce space IncNut Lifestyle with the brands “Vedix” and “Skinkraft” offering customized ayurvedic hair care and skincare solutions, transforming the beauty and wellness industry through data-driven, individualized care.

Healthcare Sector: Securing contracts with Sahyadri Hospitals, one of India’s leading hospital chains, to optimize patient management and service delivery, along with emergency response operations.

Automobile Segment: Partnering with a prominent automobile organization to focus on customer lifecycle management. These new contracts are expected to deliver significant value to clients and foster sustainable growth for Ebix. Further, the company announced that the board will consider stock split on October 19, 2024.

“I am confident that under Mr. Bhupesh Tambe’s leadership, the EbixCash Global Services division is positioned to excel in the IT and ITES sectors. Their strong customer-centric approach has been key to their success, as echoed by feedback from clients. This reinforces my optimism for the company’s growth,” stated Dr. Vikas Garg, Director of the Ebix Group. Currently, EbixCash Global Services operates with a capacity of 6,000 seats across 10 cities and 13 centres, employing around 4,500 Full-Time Equivalents (FTEs). They provide front and back-office services to various clients in the utility sector, including BSES Yamuna, several public sector units, private sector banks, and non-banking financial companies (NBFCs). With long-term client relationships averaging over seven years, the company aims to expand its workforce to 11,000 by December 2025.

EbixCash Global Services is a premier provider of BPM and Digital IT Services in India. Founded in 1989, the company has established itself as a leader in Customer Lifecycle and Business Process Management within the IT/ITES sector. With a strong commitment to innovation and excellence, EbixCash continues to deliver advanced solutions that address the evolving needs of its clients

Earlier, the company’s flagship Indian subsidiary Ebix Cash Limited, has secured a significant contract for Network Integrating Services with Punjab National Bank (PNB), one of India’s top three public sector banks.

The contract, valued at approximately INR 138.75 crores, awarded for another 3 years, not only showcases the company’s capabilities but also highlights its dominance and the vast opportunities available to the company in this vital sector of the economy, driving inclusive growth and enhancing access to banking services across the nation. Since 2021, Ebix has been responsible for managing Punjab National Bank’s enterprise-wide network across India. The company is proud to confirm that this contract has been renewed for an additional three years, starting on October 1, 2024. EBIX Inc. is a leading international supplier of On-Demand software and E-commerce services to the insurance, ûnancial and healthcare industries, EBIX Inc., (NASDAQ: EBIXQ) provides end-to- end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.

Eraaya Lifespaces is a premier lifestyle and hospitality company dedicated to curating unforgettable experiences worldwide. Rooted in a passion for excellence, we blend luxury, comfort, and style to create immersive environments that transcend mere existence. Our portfolio celebrates India’s rich culture and heritage, offering unique escapes in iconic destinations. Whether it’s crafting flawless events or producing innovative content, Eraaya Lifespaces is committed to exceeding expectations and creating memories that last a lifetime. Welcome to Eraaya, where luxury and heritage converge in perfect harmony.