Ebixcash Seeks Approval From Sebi For IPO

Ebixcash seeks approval from Sebi for IPO. Another company has sought approval for IPO.

Nasdaq-listed Ebix Inc’s Indian subsidiary Ebixcash Ltd has filed preliminary papers with capital markets regulator SEBI to raise Rs 6,000 crore through an initial public offering.

There will be no offer-for-sale (OFS) component.

As per the draft red herring prospectus, the company will raise funds by issue of equity shares and there will be no offer-for-sale (OFS) component.

Also, the company can explore pre-IPO placements up to Rs 1,200 crore. If such placement is completed, the issue size will be reduced.

Capital Requirement of Ebix Travels and EbixCash World Money.

The proceeds of the IPO will be used to finance the capital requirements of the company’s subsidiaries – Ebix Travels and EbixCash World Money.

Ebixcash seeks approval from Sebi: Outstanding Debentures of Ebix Mauritius.

In addition, the funds will be used to acquire outstanding convertible debentures of Ebix Mauritius to finance strategic acquisitions and investments, besides supporting general corporate objectives.

IPO involves a quota in equity shares for the employees of the company.

There are 4 primary sections in the business.

Ebixcash is a technology operator of digital products and services in the B2C, B2B, and fintech sectors through a unified business model.

The company’s business comprises four primary segments – primary segments, payment solutions, travel, financial technologies, BPO services, and startup initiatives.

More than 6.5 lakh physical agent distribution.

It has over 6.5 lakh physical agent distribution locations across India and South East Asia for payment solutions, remittance, travel, and insurance products as of 31st December.

Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets, Yes Securities (India) Limited are the Book Running Lead Managers who will advise the company on the IPO.

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