Nasdaq-listed Ebix Inc's Indian subsidiary Ebixcash on Thursday filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 6,000 crore through an initial public offering (IPO).
The proposed IPO comprises of fresh equity issue aggregating up to Rs 6,000 crore. The public issue also includes a reservation of equity shares for subscription by eligible employees.
According to the draft red herring prospectus (DRHP) submitted with the SEBI, the employee reservation portion will not exceed 5 per cent of post-issue paid-up equity share capital.
The company intends to raise the funds through fresh issuance of equity shares. There will not be any offer-for-sale (OFS) component.
Ebixcash is a technology-enabled provider of digital products and services in the B2C, B2B and financial technology arena, through an integrated business model.
The company business encompasses four primary segments -- payment solutions, travel, financial technologies and BPO services and startup initiatives.
( With inputs from ANI )
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