EbixCash, the fintech arm of Ebix Inc, recently received clearance from the Securities and Exchange Board of India (SEBI) for its proposed initial Public Offering (IPO).
The company is now planning to work with its advisors on the next steps leading to the listing of EbixCash on NSE and BSE, it said in a statement dated April 10.
According to reports, the public offer is expected to raise between Rs 6,000 crore and Rs 8,000 crore, making it one of the largest IPOs in the financial services sector in India.
EbixCash has forex operations in approximately 20 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata.
EbixCash is a leader in the international remittance business based on gross transactional value. Through its travel portfolio, it is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients.
EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries.
Earlier this year, EbixCash had on February 14 said that it will enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India during the G-20 summit, following Reserve Bank of India (RBI) Governor Shaktikanta Das’ announcement to allow UPI for inbound travellers at select international airports.
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