Eraaya Lifespaces wins legal claim against Elara Capital

Eraaya Lifespaces has filed a legal case against Elara Capital PLC in the High Court of Justice in England, claiming the firm has withheld $40 million in Foreign Currency Convertible Bond proceeds. This announcement was made on March 17, 2025. The company had previously secured approval to issue FCCBs worth $120 million, but claims $40 million remains unpaid. The stock experienced volatility, dropping to Rs 70.45 before recovering to Rs 71.10, down 4 percent. Despite the recent decline, Eraaya Lifespaces' stock has increased significantly over the past five years, rising 9,225 percent, and 115 percent in the last year, outperforming the BSE Sensex.