Ebixcash files Rs 6000 crore IPO papers with SEBI
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Ebixcash, the Indian subsidiary of Nasdaq listed Ebix Inc, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 6000 crore through an initial public offering (IPO).
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 utilized to acquire Ebix Mauritius's outstanding compulsorily convertible debentures, for funding strategic acquisitions and investments, besides to support general corporate purposes. Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets, YES Securities (India) are the book running lead managers that will advise the company on the IPO.
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.
