EbixCash receives Sebi concurrence to float IPO
EbixCash, the fintech arm of Ebix Inc, lately entered concurrence from the Securities and Exchange Board of India (SEBI) for its proposed original Public Offering (IPO). The company is now planning to work with its counsels on the coming way leading to the table of EbixCash on NSE and BSE, it said in a statement dated April 10.
According to reports, the public offer is anticipated to raise between Rs 6,000 crore and Rs 8,000 crore, making it one of the largest IPOs in the fiscal services sector in India. EbixCash has forex operations in roughly 20 transnational airfields, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata.
EbixCash is a leader in the transnational remittance business grounded on gross transactional value. Through its trip portfolio, it’s one of the commanding trip exchanges grounded in India and feeding to Southeast Asian requests, with over 517,000 agents and roughly 17,900 registered commercial guests.
EbixCash’s fiscal technologies business offers software results to colorful guests in the areas of wealth, asset and lending operation, insurance and machine information systems. EbixCash’s business process outsourcing services give information technology and call center services to a variety of diligence.
before this time, EbixCash had on February 14 said that it’ll enable Unified Payments Interface (UPI) deals for foreign citizens visiting India during the G- 20 peak, following Reserve Bank of India (RBI) Governor Shaktikanta Das’ advertisement to allow UPI for inbound trippers at select transnational airfields.
EbixCash, has today emerged as India’s largest end-to-end financial exchange, that includes a last mile network of over 650,000 physical distribution outlets besides an omni-channel online digital platform. EbixCash converges front-end distribution channels with back-end technology functions, across the payments solutions, travel, insurance and financial technology industries.
The EbixCash Exchange employs more than 10,500+ employees across different sectors with 191 offices across the Asia Pacific region. The leadership team of the Company is ingrained in the ethos of Customer First, a genuine need to excel, a bias for action and delivering results.
With a clear leadership position in the areas of international remittance and foreign exchange, as well as leadership positions in other areas such as digital payments solutions, domestic money remittance, prepaid cards, travel, insurance and corporate & incentive solutions, EbixCash, is pioneering convergence end-to-end play. EbixCash is today leveraging its focus on On-Demand technology as the means to maintain and grow its leadership position.
EbixCash portfolio of products can be accessed digitally anywhere as well as across its distribution outlets spread over 4,000 cities and 75,000 villages. EbixCash business encompasses four primary business segments – (1) Payments Solutions (2) Travel (3) Financial Technologies (4) BPO and Startups.