EbixCash gets SEBI's nod to raise Rs 6000 crore via IPO
EbixCash has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 6000 crore through an initial public offering (IPO). The company, which filed the draft red herring prospectus with the SEBI in March 2022, got the regulator’s approval on April 10, 2023.
Proceeds of the IPO will be used for funding the working capital requirements of the company’s subsidiaries - Ebix Travels and EbixCash World Money. In addition, the funds would be utilised to acquire Ebix Mauritius’ outstanding compulsorily convertible debentures, for funding strategic acquisitions and investments, and to support general corporate purposes. Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets and Yes Securities are the book running lead managers for the issue.
Ebixcash is a technology-enabled provider of digital products and services in the B2C, B2B, and financial technology arena, through an integrated business model. The company business encompasses four primary segments - payment solutions, travel, financial technologies, and BPO services and startup initiatives.
