EbixCash will now be working with its advisors on the next steps leading to the listing of EbixCash on NSE and BSE.
Ebix Cash has received clearance from Securities and Exchange Board of India (SEBI), and now the company is allowed to move forward with its plans to raise funds through an Initial Public Offering (IPO).
The IPO is expected to raise between Rs 6,000 to Rs. 8,000 crores, making it one of the largest IPOs in the financial services sector in India.
The company’s management team is aware that going public would not only help raise much-needed funds but also give them access to a wider pool of investors and raise the company’s profile in the industry.
EbixCash is in four primary business segments: payment solutions, travel, financial technologies, business processing outsourcing services, and startup initiatives. It had posted a profit of Rs 230 crore for FY21 against Rs 243.3 crore in the previous fiscal. Its revenues jumped 91.36 per cent to Rs 4,152.5 crore in FY21.