Eraaya Lifespaces Limited has completed its largest warrant conversion to date, converting 32,00,000 warrants into equity shares on January 5, 2026. The fund-raising committee approved this conversion at ₹81.00 per share, raising ₹25.92 crores from promoter Vikas Garg, marking the completion of his full warrant conversion program.

Latest Warrant Conversion Details

The fund-raising committee meeting held on January 5, 2026, approved the allotment of 32,00,000 equity shares with a face value of ₹1.00 each at an issue price of ₹81.00 per share, including a premium of ₹80.00 each. This conversion represents the final exercise of Vikas Garg's warrant rights and was conducted as a preferential allotment under SEBI regulations.

Complete Warrant Conversion History

Vikas Garg, belonging to the promoter/promoter group category, has now completed his full warrant conversion program. The warrants were originally allotted on January 18, 2025, carrying the right to subscribe to one equity share per warrant. This latest conversion follows previous conversions of 18,00,000 warrants, bringing his total converted warrants to 50,00,000.

Shareholding Impact and Capital Structure

Following this warrant conversion, Vikas Garg's shareholding has increased significantly from 18,00,000 shares (0.88%) to 50,00,000 shares (2.42%). The conversion has completed his full warrant exercise program, with no pending warrants remaining for future conversion.

Updated Share Capital Structure

The warrant conversion has increased Eraaya Lifespaces' issued and paid-up capital to ₹20,66,94,160, consisting of 20,66,94,160 equity shares with a face value of ₹1.00 each. The new equity shares rank pari-passu with existing equity shares, providing equal rights and privileges to the holder.

Regulatory Compliance and Documentation

The warrant conversion was executed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with comprehensive disclosure requirements fulfilled. The conversion was conducted in accordance with SEBI (ICDR) Regulations, 2018, and follows the SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has communicated the outcome to BSE Limited with scrip code 531035 and ISIN INE432F01032. Company Secretary Vasudha Aggarwal has digitally signed all regulatory documentation for this transaction.

Eraaya Lifespaces Limited has successfully organized its inaugural global business leaders conclave, Ebix Odyssey 2025, marking a significant milestone in the company's innovation-led growth strategy. The strategic summit brought together business vertical heads and senior leadership from across the organization's global operations, emphasizing growth through innovation and future strategies.

Strategic Platform for Global Expansion

The conclave served as a comprehensive platform to solidify the roadmap for the next phase of global expansion. Backed by a global workforce of approximately 7,000 employees across 13 countries, the event facilitated strategic dialogue, leadership alignment, and long-term vision setting among key stakeholders.

Luxury Train Setting Enhances Strategic Discussions

The conclave was hosted aboard the Deccan Odyssey, a globally recognized luxury train and flagship offering operated and managed by Ebix Travels, the travel business arm of the group. The four-day journey provided an immersive environment for strategic dialogue while showcasing the scale of India's premium travel infrastructure. The train's premium amenities, fully equipped conference saloon, and personalized service enabled extended strategy sessions without disruption.

Core Business Focus Areas

Key deliberations centered on Ebix's core growth engines across four primary business segments:

• Technology: On-demand software, SaaS solutions, and digital exchanges supporting insurance, reinsurance, financial services, healthcare, risk and compliance
• Payments: Technology-enabled payment solutions and financial transaction platforms
• Travel: End-to-end travel distribution solutions, booking platforms, and digital marketplaces
• Emerging Businesses: E-learning solutions focused on digital education and professional training

The agenda emphasized scaling integrated platforms, driving innovation with commercial outcomes, and prioritizing long-term value creation. Additional focus areas included leadership effectiveness, evolving talent and HR strategies, and transparent dialogue through open-house sessions to reinforce accountability and cross-functional collaboration.

Leadership Perspectives on Transformation Journey

Dr. Vikas Garg, Chairman of Eraaya Lifespaces Limited Ebix Group, highlighted the significance of the event: "This conclave marks an inflection in our transformation journey. As we integrate the strengths of Ebix with Eraaya's long-term vision, our focus is firmly on building a future-ready organisation anchored in technology, disciplined execution, and sustainable value creation."

Gagan Sethi, Global CEO Technology Businesses, emphasized the collaborative spirit: "The Ebix Odyssey Conclave 2025 was much more than an event, a living, breathing experience. What stood out most was the genuine cross-border collaboration and shared sense of purpose that emerged over these days."

Strategic Positioning Post-Acquisition

Following the acquisition of Ebix Inc. by Eraaya Lifespaces Limited, the conclave reinforced the next phase of an innovation-led and sustainable growth journey. The event served as a reaffirmation of the core values and legacy that continue to define the Ebix brand, with emphasis on business strategy, operational excellence, and scalable opportunities across multiple verticals.

The company emphasized its commitment to moving forward with renewed clarity, stability, strategy, and intent, leveraging strong operational foundation, diversified platforms, and expansive market reach to drive sustainable growth and long-term value creation for partners, employees, and all stakeholders.