IPO · Financial Services
Ebixcash Limited files for six thousand crore IPO
By Startup Enthusiast ·
- Date
- Company
- Ebixcash Limited
- What it does
- Financial exchange and payment services
- Kind
- IPO
- Amount
- ₹6,000 Cr
- Stage
- public
- Based in
- Mumbai
- Sector
- Financial Services
What they do
Ebixcash Limited provides financial exchange, payment services, and travel technology solutions to various business and consumer segments
What happened
The company filed for an initial public offering (IPO) to raise up to ₹6,000 crore through a book-building process
Why it matters
Proceeds will support subsidiary working capital, debt repayment, strategic acquisitions, and general corporate purposes for the firm
The details
- Ebixcash Limited has filed for an IPO (initial public offering; the first sale of stock to the public) of up to ₹6,000 crore.
- The offering consists of a fresh issue of equity shares with a face value of Re. 1 each.
- The company may conduct a pre-IPO placement (private sale of shares before the public offering) of up to ₹1,200 crore.
- Any funds raised through a pre-IPO placement will reduce the total size of the public issue.
- The company plans to list its shares on the NSE (National Stock Exchange) in Mumbai.
- The final price band, employee discount, and minimum bid lot size will be determined at a later date.
The bigger picture
- The company intends to use the capital to fund working capital requirements for its subsidiaries, Ebix Travels and Ebixcash World Money.
- Funds will also be used to purchase outstanding CCDs (compulsorily convertible debentures; debt instruments that must be converted into equity) from Ebix Mauritius.
- The company plans to allocate a portion of the proceeds toward strategic acquisitions, investments, and general corporate purposes.
About the business
- Ebixcash Limited operates as a financial exchange and payment services provider.
- The company is also known as Ebix Technologies Ltd.
- It maintains its registered office at 247 Park in Vikhroli West, Mumbai.
- The firm provides services across multiple sectors including travel and financial technology.
- It manages operations through various subsidiaries to support its broader financial ecosystem.
What happens next
- The company will finalize the price band and bid details before the public launch.
The deal
- Type
- ipo
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