EbixCash Announces IPO Update
January 06 2020 - 7:29AM
EbixCash, a fully owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a
leading international supplier of On-Demand software and E-commerce
services to the insurance, financial, healthcare and e-learning
industries today announced an update on its EbixCash IPO plans in
India.
EbixCash announced that it is continuing to make
progress in terms of moving forward with its IPO plans. The Company
declared today the appointment of two domestic legal counsel and
one international legal counsel, to handle its IPO.
The Company also said that it will soon announce
the appointment of a reputed international industry analyst firm
towards analyzing the industry and EbixCash’s relative position in
the markets with respect to the industry. All of this detailed
analysis would form an integral part of the EbixCash Draft Red
Herring Prospectus (DRHP) – the offer document to be filed by the
company for its public IPO.
The Company declared that it is also evaluating
a number of international investment bankers, with a view to
appoint one or two international investment bankers, as the Company
deems fit. The Company intends to formalize the appointment/s soon,
with a view to finalize its investment banking roster.
On 4th September 2019, the Company announced the
appointment of ICICI Securities as the Left Banker, besides being
one of the Book Running Lead Managers for the IPO. The Company also
announced the appointment of Axis Capital and Edelweiss Financial
Services as Book Running Lead Managers on the same date.
About EbixCash and Ebix, Inc.
With a "Phygital” strategy that combines 320,000 physical
distribution outlets in many Southeast Asian Nations (“ASEAN”)
countries, to an Omni-channel online digital platform, the
Company’s EbixCash Financial exchange portfolio encompasses
leadership in areas of domestic & international money
remittance, foreign exchange (Forex), travel, pre-paid & gift
cards, utility payments, lending, wealth management etc. in India
and other markets. EbixCash’s Forex operations have emerged as a
leader in India’s airport Foreign Exchange business with operations
in 32 international airports including Delhi, Mumbai, Bangalore,
Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in
gross transaction value per year. EbixCash’s inward remittance
business in India conducts approx. $6.5 billion gross annual
remittance business, confirming its undisputed leadership position
in India. EbixCash, through its travel portfolio of Via and
Mercury, is also one of Southeast Asia’s leading travel exchanges
with over 2,200+ employees, 212,450+ agent network, 25 branches and
over 9,800 corporate clients; processing an estimated $2.5 billion
in gross merchandise value per year. For more information, visit
the Company’s website at www.ebixcash.com With 50+ offices across 6
continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide
On-Demand software and E-commerce services to the insurance,
financial, healthcare and e-learning industries. In the Insurance
sector, Ebix’s main focus is to develop and deploy a wide variety
of insurance and reinsurance exchanges on an on-demand basis, while
also, providing Software-as-a-Service ("SaaS") enterprise solutions
in the area of CRM, front-end & back-end systems, outsourced
administration and risk compliance services, around the world. For
more information, visit the Company’s website at
www.ebix.com
CONTACT:
Darren JosephIR@ebix.com or 678 281 2027
David Collins or Chris EddyCatalyst Global - 212-924-9800 or
ebix@catalyst-ir.com
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