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Money transfer firm EbixCash to file draft papers for $1-B IPO

Mint  

EbixCash, the Indian subsidiary of Nasdaq-listed Ebix Inc., will soon file draft papers for its initial public offering (IPO) to raise INR 7,500 crore. The company aims to list at a valuation of around INR 37,500 crore. The company is being advised by investment banks Motilal Oswal, Equirus Capital, ICICI Securities, SBI Capital, and Yes Securities. EbixCash is involved in various financial services businesses that span business-to-customer (B2C) distribution, business-to-business (B2B), back-end systems, digital payments solutions, domestic and international money transfer services, travel, insurance, and corporate and incentive solutions.