The company now plans to work with its advisors on the next steps leading up to the listing of EbixCash on the NSE and BSE, it said in a statement.
EbixCash, the fintech arm of Ebix Inc, recently received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The company now plans to work with its advisors on the next steps to list EbixCash on the NSE and BSE, it said in an April 10 statement.
The public offering is reportedly 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 foreign exchange operations in about 20 international airports including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata.
EbixCash is a leader in international remittance business based on gross transaction value. Through its travel portfolio, it is one of the leading travel exchanges based in India, serving the Southeast Asian markets with over 517,000 agents and approximately 17,900 registered corporate clients.
EbixCash’s financial technology business provides software solutions to various clients in wealth, asset and credit 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 announced on Feb. 14 that it would enable Unified Payments Interface (UPI) transactions for foreigners visiting India during the G-20 summit, after Reserve Bank of India (RBI) Governor Shakktanta Das, had announced that UPI would allow inbound travelers at select international airports.
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