Mobile payment solution provider Ebixcash IPO will come, plans to raise Rs 6000 crore

Ebixcash IPO: Ebixcash, an Indian subsidiary of Nasdaq-listed company Ebix Inc, has been approved by the stock market regulator SEBI to launch an IPO. According to the draft paper filed with SEBI, Ebixcash can raise Rs 6000 crore from the market through IPO.

Ebixcash will raise money in the IPO by issuing new shares. No amount will be raised through Offer for Sale. That is, the promoter investors of the company will not sell their stake. The amount raised through the IPO will be used to fund the working capital requirements of the company’s subsidiaries Ebix Travels and EbixCash World Money. EbixCash provides technology for digital products and services in the field of B2C, B2B and Financial Technology through Integrated Business Model. The company is engaged in the field of Payment Solutions, Travel, Financial Technology, BPO Services, and Startups. After getting approval from SEBI, EbixCash has started getting the company listed on the stock exchange. The listing of the company will be on BSE and NSE.

EbixCash had a profit of Rs 230 crore in 2020-21 on a revenue of Rs 4152.5 crore. Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Yes Securities are the merchant bankers to the IPO. EbixCash has its forex operations at 20 international airports in the country including Delhi, Mumbai, Hyderabad, Chennai, Kolkata. In the same year, EbixCash had said that the company would provide UPI (Unified Payments Interface) transaction facility to foreign nationals who are coming to India to attend the G-20 meeting.

SEBI has also approved the IPO of Survival Technologies. The company is preparing to raise Rs 1,000 crore through IPO, in which it will raise 200 crore by issuing new shares and Rs 800 crore by selling shares under offer for sale. In the amount raised through IPO, Rs 175 crore will be spent on corporate needs. The company is engaged in manufacturing specialty chemicals.

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