Key Points of EbixCash IPO Approval by SEBI:
- EbixCash, a fintech subsidiary of Ebix Inc, has received clearance from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
- The company is collaborating with advisors to proceed with the process leading to the listing of EbixCash on NSE and BSE.
- The public offering is expected to generate between Rs 6,000 crore and Rs 8,000 crore, making it one of the most significant IPOs in India’s financial services sector.
- EbixCash operates forex services in almost 20 international airports, including Delhi, Mumbai, Hyderabad, Chennai, and Kolkata.
- EbixCash is a leader in the global remittance sector based on gross transactional value and also one of India’s leading travel exchanges, serving Southeast Asian markets.
- The financial technologies division of EbixCash provides software solutions to clients in wealth, asset and lending management, insurance, and bus information systems.
- EbixCash’s business process outsourcing services offer information technology and call center services to various industries.
Details of EbixCash IPO Approval by SEBI:
EbixCash, the fintech subsidiary of Ebix Inc, has been granted clearance by the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). In a statement dated April 10, the company announced that it is now collaborating with its advisors to advance the process leading to the listing of EbixCash on NSE and BSE.
According to reports, the public offering is expected to generate between Rs 6,000 crore and Rs 8,000 crore, making it one of the most significant IPOs in the financial services sector in India.
EbixCash operates forex services in nearly 20 international airports, including Delhi, Mumbai, Hyderabad, Chennai, and Kolkata. Based on gross transactional value, EbixCash leads the way in the global remittance sector. It is also one of India’s leading travel exchanges, serving Southeast Asian markets with over 517,000 agents and around 17,900 registered corporate clients through its travel portfolio.
The financial technologies division of EbixCash provides software solutions to clients in wealth, asset and lending management, insurance, and bus information systems. Additionally, EbixCash’s business process outsourcing services offer information technology and call center services to various industries.
Earlier this year, on February 14, EbixCash revealed that it would allow Unified Payments Interface (UPI) transactions for foreign nationals visiting India during the G-20 summit, following the Reserve Bank of India (RBI) Governor Shaktikanta Das’ announcement to allow UPI for inbound travellers at select international airports.
About EbixCash:
EbixCash integrates front-end distribution channels with back-end technology functions for payments solutions, travel, insurance, and financial technology industries. The EbixCash Exchange has a workforce of over 10,500 employees in diverse sectors and maintains 191 offices throughout the Asia Pacific region.
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