In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Eraaya Lifespaces Limited (“Eraaya” / “the Company”) hereby informs that a long-standing shareholder matter relating to Ebix Payment Services, a step-down subsidiary associated with the ItzCash, has been conclusively resolved, with the Hon’ble Bombay High Court approving the Consent Terms entered into between the concerned parties.

The matter emanated from legacy structures and arrangements under the previous management of the Ebix group and was not part of the Chapter 11 resolution process or the acquisition consideration paid by Eraaya, thereby representing an inherited overhang post-acquisition.

Following the acquisition of Ebix Inc, and all its global subsidiaries in August 2024, Eraaya’s management undertook a structured, time-bound review of such legacy positions, with a clear mandate to identify, isolate and resolve historical complexities while reinforcing governance discipline and operational clarity. In furtherance of this approach, the Company has executed a negotiated framework for the complete buyout of minority shareholding in Ebix Payment Services Private Limited, for an aggregate settlement amount of approximately INR 1,800 million, to be discharged over an agreed timeframe.

Despite the obligation not forming part of the original acquisition construct, Eraaya has taken a considered and decisive call to resolve the matter in entirety, with the objective of eliminating uncertainty, simplifying the group structure, and enabling sharper strategic focus on core operating priorities.

This resolution marks a material clean-up of a legacy overhang and reflects:

  • A decisive governance-led approach, prioritising resolution over deferral
  • Disciplined and forward-looking capital allocation, including towards inherited non-core exposures
  • A clear emphasis on stability, transparency and long-term value creation

With the Hon’ble Court’s approval, the matter attains finality and remove longstanding structural constraints, whereby shall enhance operational flexibility within the payments business and enable more efficient deployment of capital across growth verticals.

The Company views such actions as integral to progressively enhancing institutional quality and reducing structural complexity, thereby contributing to a cleaner and more agile platform for future strategic initiatives and capital allocation priorities.

The Company acknowledges the constructive engagement of the counterparties in achieving an orderly and time-bound resolution. Due to confidentiality obligations, detailed terms of the settlement remain undisclosed. This milestone underscores Eraaya’s continued commitment to full-spectrum resolution of inherited legacy matters, while strengthening balance sheet and capital discipline thereby advancing a sustained governance reset across the platform.

Eraaya remains focused on sustaining this momentum as it advances its strategic agenda with a clear emphasis on execution, stability and long-term stakeholder value.