Getty ImagesMumbai: EbixCash, a digital product and service provider, filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise 6,000 crore through an initial public offering (IPO). The offer will be fresh issue of shares, according to the DRHP.
The company is likely to do a rights share issue aggregating up to 1,200 crore ahead of the IPO.
About 1,035 crore of the issue proceeds will be utilised for working capital requirements of its subsidiaries, 2,748 crore for purchase of outstanding convertible debentures from its subsidiaries, and funding strategic acquisitions and investments.
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 230 crore for FY21 against 243.3 crore in the previous year. Its revenues jumped 91.36% to 4,152.5 crore in FY21.
Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets and Yes Securities are the book running lead managers for the issue.
The company is likely to do a rights share issue aggregating up to 1,200 crore ahead of the IPO.
About 1,035 crore of the issue proceeds will be utilised for working capital requirements of its subsidiaries, 2,748 crore for purchase of outstanding convertible debentures from its subsidiaries, and funding strategic acquisitions and investments.
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 230 crore for FY21 against 243.3 crore in the previous year. Its revenues jumped 91.36% to 4,152.5 crore in FY21.
Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets and Yes Securities are the book running lead managers for the issue.
( Originally published on Mar 10, 2022 )
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