The company aims to list its business at a valuation of around ₹37,500 cr
MUMBAI : EbixCash, the Indian subsidiary of Nasdaq-listed Ebix Inc., will soon file draft papers for its initial public offering (IPO) to raise as much as ₹7,500 crore, two people aware of the development said.
EbixCash is involved in various financial services businesses that span business-to-customer (B2C) distribution, business-to-business (B2B), back-end systems, digital payments solutions, domestic and international money transfer services, travel, insurance, and corporate and incentive solutions. The company claims to process more than $18 billion in gross merchandise value.
“The IPO will be a completely fresh issue of shares,” said one of the two people cited above, both of whom spoke on the condition of anonymity. The company is being advised by investment banks Motilal Oswal, Equirus Capital, ICICI Securities, SBI Capital, and Yes Securities, he said. The company aims to list at a valuation of around ₹37,500 crore, he added.
EbixCash is likely to file its draft prospectus this week, the second person said.
“EbixCash has more than 320,000 distribution outlets in India and holds a leadership position when it comes to forex and inward remittances and accounted for $7 billion in foreign exchange annually and $6.5 billion in remittances per year in the pre-covid era. It caters to 91% of the inward money transfers for Western Union. In the financial technologies domain it has more than 150 lending solution installations, over 60 AMC clients globally, and more than 32 banking, financial services and insurance clients in India. Its exclusive partnership with MoneyGram has seen it service a remittance volume of $2 billion annually,” the second person said.
EbixCash entered India in 2017 with its purchase of ItzCash from Essel Group. The company has scaled up its business in India through an aggressive inorganic growth strategy. Since its entry in the Indian continent, it acquired 26 enterprises across forex, remittance, education, fintech and travel, among others.
“EbixCash has laid out a strategy to build an ‘airport of financial transactions’ by trying to bring B2C and B2B services across a spectrum of financial transactions on the same platform,” the first person said.
In its travel business, the company has partnerships with global travel companies such as Travelport and Sabre and caters to more than 10,000 corporate clients through its brands Via and Mercury.
The company also has a joint venture with BSE to facilitate sale of insurance to the last mile in India. Recently, it announced that it will sell life and health policies for Life Insurance Corp. of India through its network.
EbixCash recently named Uma Shankar, former executive director of Reserve Bank of India to its board, following uthe addition of S.P. Kothari, former chairperson of the economic wing of the US Securities and Exchange Commission, Sunil Srivastav, former deputy managing director of State Bank of India, and S. Ravi, former BSE chairman, as independent board members.
An email sent to EbixCash did not elicit a response till press time.
80 thoughts on “EbixCash to file draft papers for a $1 bn IPO”
order levaquin order levaquin 250mg for sale
dutasteride order online buy avodart for sale zofran online order
order sildenafil 50mg online order aurogra generic buy estrace 2mg pills
oral lamictal 200mg mebendazole 100mg for sale cost retin gel
buy tadalis for sale tadalafil price order diclofenac 50mg generic
isotretinoin 40mg without prescription isotretinoin buy online zithromax cost
order indomethacin for sale buy indocin purchase trimox online
order cialis 40mg for sale ed remedies viagra us
order arimidex online sublingual viagra 150 mg order sildenafil 50mg pill
cialis comprimГ© vrai viagra 50mg prix viagra 100mg gГ©nГ©rique
buy deltasone online cheap 5mg cialis samples sildenafil 50mg without prescription
accutane 40mg price buy isotretinoin 10mg online cheap ivermectin 3mg online
provigil 100mg for sale acetazolamide usa buy acetazolamide 250mg online cheap
buy generic doxycycline 200mg buy furosemide pills furosemide 100mg for sale
ramipril medication altace 5mg tablet brand azelastine
catapres 0.1mg sale spiriva 9 mcg pills purchase spiriva for sale
order buspar 10mg pills order buspar purchase ditropan online
hytrin usa buy actos 15mg pill azulfidine online order
alendronate 35mg canada buy ibuprofen generic buy pepcid 20mg sale
benicar over the counter calan 240mg usa buy acetazolamide 250 mg online cheap
tacrolimus order order urso 300mg sale buy urso 300mg online cheap
order generic imdur buy lanoxin 250 mg sale order generic telmisartan 80mg
brand zyban 150 mg order generic quetiapine seroquel 100mg canada
molnunat 200 mg over the counter order omnicef 300mg online order lansoprazole for sale
cost sertraline 100mg escitalopram online order order generic sildenafil
oral salbutamol 100mcg pantoprazole 20mg without prescription sildenafil 100mg canada
buy tadalafil online buy tadalafil 20mg generic viagra online buy
order cialis 10mg for sale buy generic cialis 10mg symmetrel 100 mg cheap
order naltrexone pill femara 2.5 mg pills abilify for sale online
order avlosulfon 100 mg generic order allegra generic aceon uk
provera 5mg cheap cost medroxyprogesterone 10mg buy periactin 4 mg for sale
provigil online order best canadian online pharmacy reviews ivermectin 6mg for humans for sale
fluvoxamine 100mg pill fluvoxamine sale glucotrol 5mg price
order isotretinoin 40mg generic deltasone 10mg pills prednisone 40mg over the counter
buy generic piracetam sildenafil 50mg usa best viagra sites online
buy azithromycin 500mg sale order prednisolone 20mg sale buy neurontin 800mg online
lasix 40mg over the counter order hydroxychloroquine for sale buy plaquenil 400mg sale
order tadalafil 10mg online anafranil drug clomipramine usa
chloroquine over the counter buy olumiant 4mg online buy baricitinib
sporanox 100mg canada cheap sporanox 100 mg tindamax 300mg drug
metformin 500mg us brand atorvastatin 10mg cialis 5mg uk
order amlodipine 5mg pill tadalafil brand name cialis coupons
buy clozaril without prescription cost clozapine 100mg decadron 0,5 mg sale
buy generic sildenafil 100mg sildenafil 200mg lisinopril medication
linezolid 600 mg without prescription online casino game play blackjack online for real money
buy prilosec 10mg sale online gambling for real money online blackjack gambling
buy lopressor 100mg without prescription levitra 20mg ca oral levitra
buy essay online uk gambling games free roulette games
order generic vardenafil medrol cost in usa medrol 4 mg without prescription
clomiphene us online blackjack with real money online blackjack live dealer
aristocort drug buy triamcinolone online cheap desloratadine pills
dapoxetine 30mg usa purchase synthroid synthroid 75mcg generic
cialis india usa viagra sales viagra overnight shipping usa
order orlistat sale xenical without prescription order zovirax 400mg generic
tadalafil 10mg ca cost tadalafil 40mg order plavix 150mg
zyloprim uk order zyloprim 300mg buy zetia 10mg pills
order methotrexate 5mg online cost coumadin 5mg oral reglan 10mg
order motilium generic order flexeril 15mg without prescription order cyclobenzaprine 15mg without prescription
purchase losartan generic losartan 25mg canada topamax sale
buy lioresal without prescription order tizanidine online buy toradol 10mg sale
cost sumatriptan 50mg buy imitrex sale avodart usa
colchicine over the counter buy generic colchicine free online roulette
casino slots gambling play online roulette for fun casino arizona
flomax 0.2mg oral zofran 4mg oral aldactone brand
buy tadalafil 5mg generic ampicillin cost order ciprofloxacin sale
oral simvastatin 10mg simvastatin 10mg cost order propecia generic
cost metronidazole 200mg metronidazole buy online trimethoprim ca
diflucan 200mg for sale cheap fluconazole sildenafil 50mg tablet
order cephalexin online cephalexin 250mg uk buy erythromycin 500mg without prescription
cialis 40mg tablet cialis 40mg generic buy sildenafil 50mg online cheap
real viagra 100mg cialis 10mg usa order cialis for sale
ceftin price ceftin price methocarbamol 500mg us
no deposit casino casino slot generic cialis
trazodone drug cheap desyrel 50mg aurogra 50mg without prescription
help me write my research paper stromectol 12mg without prescription buy ivermectin stromectol
sildenafil for women order generic estrace 1mg lamotrigine order
cost prednisone 40mg order isotretinoin 20mg generic order amoxil 500mg online cheap
usa pharmacy viagra cheap viagra tablets cialis cheap
slot games online best ed drug cialis savings card
zithromax cost prednisolone cost gabapentin 100mg price