EbixCash files for a ₹6,000 crore Initial Public Offering (IPO).

Indian Subsidiary of Ebix Incorporation- Ebixcash has filed for an Rs. 6000 crore Initial Public Offering (IPO). Currently, the company operates in four segments- Payment Solutions, travel, financial technologies, and business processing outsourcing (BPO) services and startup initiatives. This IPO is a completely fresh issue of shares. The company in its statement said: “Our diversified financial exchange platform allows us to harness deep synergies and provides cross-selling and upselling opportunities to both consumers and businesses.” The company has many segments but it informed that only one of its segments- Payment Solutions is making it significant money. 80% of the revenue comes from Payment Solutions. Revenue from its Travel segments plunged dramatically due to the pandemic. The company said: “Our travel business has continued to grow sequentially throughout 2021, but is still operating at significantly lower levels as compared to the pre-COVID-19 period.” Ebixcash also informed that Rs. 1,035 crores of the IPO will be used for the working capital and ₹2,748 crores will be used for the purchase of outstanding convertible debentures from its subsidiaries and funding strategic acquisitions and investments.