EbixCash Files DRHP to Raise Rs 6K cr via IPO

A digital product and service provider, flled its draft red herring prospectus (DRHP) with the securities and Exchange Board of India to raise Rs. 6000 crore through an intial 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 Rs 1200 crore ahead of the IPO.

About Rs 1,035 crore of the issue proceds will be utilized for a working capital requirements of its subsidiaries, Rs 2748 crore for purchase of outstanding convertilble  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 Rs 230 crore for FY21 against Rs 243.3 crore  in the  previous year. Its revenues jumped 91.36% to Rs 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. S-ET

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