checkAd

Ebix Subsidiary EbixCash Commences IPO Exercise

Nachrichtenquelle: globenewswire
16.04.2021, 13:30  |  169   |   |   

 • ICICI Securities, Axis Capital, SBI Capital & Edelweiss Financial Services are Lead Managers to the Proposed IPO

NOIDA, India and JOHNS CREEK, Ga., April 16, 2021 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced that its EbixCash Indian subsidiary has decided to commence work with immediate effect, leading to the proposed IPO of EbixCash. The Company made that decision after a meeting of all the four investment bankers with the Company a few days back. ICICI Securities, Axis Capital, SBI Capital & Edelweiss Financial Services are Lead Managers to the proposed EbixCash IPO.

Accordingly, the Company has decided to engage two statutory auditors in a dual auditor role (a named national auditor and a named international auditor) for the IPO, to commence the 3-year audit exercise leading to filing of the draft red herring prospectus (DRHP), with the Securities and Exchange Board of India. DHRP is the preliminary registration document prepared by the investment bankers for the prospective IPO. The Company is targeting the filing of the DHRP by the fourth quarter of 2021 with a targeted IPO in the first quarter of 2022.

EbixCash also announced earlier that it has already engaged the domestic and international legal firms for this exercise. The Company has also selected a BIG4 accounting firm for the market and product analysis sections of the DHRP. Over the next few months, the Company will be engaging a few other firms for various elements of the DHRP.

A few weeks back, the Company had announced the addition of SBI Capital Markets as the fourth Lead Manager for the EbixCash IPO, besides ICICI Securities, Axis Capital & Edelweiss Financial Services who were appointed Book Running Lead Managers for the IPO earlier. ICICI Securities serves as the Left Banker for the IPO.

SBICAP, ICICI, Axis and Edelweiss are considered amongst the top investment bankers in India in terms of reach, number of issues handled, money raised and overall performance. Each of them appears in most of the top 5 rankings of investment banks in India. All of these firms plan to initiate equity research coverage of EbixCash after the IPO.

EbixCash today is one of India’s top on-demand financial and insurance exchanges, with a "Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform. The Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets.

Seite 1 von 2
Ebix Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



Wertpapier



0 Kommentare

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Ebix Subsidiary EbixCash Commences IPO Exercise  • ICICI Securities, Axis Capital, SBI Capital & Edelweiss Financial Services are Lead Managers to the Proposed IPO NOIDA, India and JOHNS CREEK, Ga., April 16, 2021 (GLOBE NEWSWIRE) - Ebix, Inc. (NASDAQ: EBIX), a leading international supplier …

Community

Nachrichten des Autors

Titel
Titel
Titel
Titel