Ebix shares surge 33% after subsidiary received IPO clearance from Securities and Exchange Board of India

Published: April 10, 2023 at 10:07 am ET

By ChrisWack

Ebix Inc. shares rose 33% after the company announced that its subsidiary EbixCash Limited received a final observation letter/approval from the Securities and Exchange Board of India for the proposed IPO.

The software and e-commerce company said EbixCash will now work with its consultants on the next steps…

By ChrisWack

Ebix Inc. shares rose 33% after the company announced that its subsidiary EbixCash Limited received a final observation letter/approval from the Securities and Exchange Board of India for the proposed IPO.

The software and e-commerce company said EbixCash will now work with its advisors on the next steps leading to EbixCash’s listing on the National Stock Exchange of India and the BSE bourse.

The stock closed up 9% on Thursday and is down 48% over the last 12 months.

Write to Chris Wack at [email protected]