The Securities and Exchange Board of India (SEBI) has recently approved EbixCash’s proposed initial public offering (IPO). EbixCash is the fintech division of Ebix Inc.
The company plans to collaborate with its advisors on the next stages leading to the listing of EbixCash on NSE and BSE, according to an April 10 statement.
The public offering is anticipated to raise between Rs 6,000 crore and Rs 8,000 crore, making it one of the largest IPOs in India’s financial services sector.
EbixCash operates foreign exchange services in roughly 20 international terminals, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai, and Kolkata.
The business stated that it will work with its advisers to list EbixCash on NSE and BSE.
EbixCash is the international remittance market champion in terms of the aggregate transaction value. Through its travel portfolio, it is one of the most prominent travel exchanges based in India and serving Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients.
The financial technologies division of EbixCash provides clients with software solutions for wealth, asset, and lending management, insurance, and transportation information systems. EbixCash’s business process outsourcing services provide various industries with information technology and call center services.
EbixCash announced on February 14 of this year that it would enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India for the G-20 summit, following the announcement by Reserve Bank of India (RBI) Governor Shaktikanta Das to allow UPI for inbound travelers at select international airports.