Ebixcash files draft papers with Sebi to raise Rs 6,000 crore through IPO
The funds will be garnered through the fresh issuance of equity shares
Ebixcash, Nasdaq-listed Ebix Inc's Indian subsidiary, has filed draft papers with the capital markets regulator Securities and Exchange Board of India (Sebi) for Rs 6,000 crore IPO, media reports said.
The funds will be garnered through the fresh issuance of equity shares. According to the draft red herring prospectus, there will not be any offer-for-sale (OFS) component.
As per reports, Ebixcash may explore a pre-IPO placement of up to Rs 1,200 crore and if such a placement is completed, the issue size will be reduced.
Ebixcash is a technology-enabled provider of digital products and services in the B2C, B2B and financial technology arena, through an integrated business model.
Reports say that the company intends to use the IPO proceeds for funding the working capital requirements of subsidiaries, Ebix Travels and EbixCash World Money.
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