Eraaya Lifespaces, whose shares surged over 6,000% in last 1 year, replaces CEO for being 'absent without any explanation'

Eraaya Lifespaces, whose shares surged over 6,000% in last 1 year, replaces CEO for being 'absent without any explanation'

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Eraaya LifeSpaces Limited, a publicly traded company on the Bombay Stock Exchange, said on September 4 announced CS Murty as its new CFO after its previous CFO has been found "absenting from her duties for last 4-5 weeks".

"Previous Chief Financial Officer Meenakshi Sharma is absenting from her duties for last 4-5 weeks without any proper explanation and is currently not accessible," said Eraaya Lifespaces in a stock exchange filing.

In the last one year, Eraaya Lifespaces' shares soared a whopping 6,300 percent. The 52-week high of the stock is Rs 1,151.55 and the 52-week low is Rs 17.81.

The market capitalisation of the company is Rs 2,100 crore.

On September 5, Eraaya Lifespaces' shares had hit 5 percent upper circuit at Rs 1,151.55.

Eraaya Lifespaces recently acquired Ebix Inc., a prominent player in the On-Demand software and e-commerce sectors for insurance, financial services, healthcare, and e-learning.

Ebix will remain a US-based company, continuing its operations under US laws, while integrating its financial results into Eraaya.

Ebix exited Chapter 11 bankruptcy and is debt-free worldwide now. Ebix founder Robin Raina will continue as CEO and chairman.

Ebix’s operations in India, particularly through EbixCash, will continue as usual.

"Since Eraaya has become the holding entity for Ebix Inc. and its worldwide subsidiaries, the board decided to constitute a high-power steering committee, to ensure effective and strategic management of Ebix operations and successful integration, with focus on achieving long-term, pre-defined objectives to drive sustained growth and create substantial value for all stakeholders," said Eraaya in a stock exchange filing.

Last month, Eraaya said it completed its QIP to raise Rs 249 crore and that the funds will be utilised towards acquisition of Ebix Inc.