EbixCash IPO

Through an integrated business model, Ebixcash Limited is a technology enabled provider of online solutions and offerings in the B2C, B2B, and financial technology arenas, with leading places in major businesses that they operate in. EbixCash IPO will hit the stock market in March 2023.

About Ebixcash

Payment solutions, travel, financial technology, business processing outsourcing services, and start-up efforts are the four key business categories in which they operate.

They are a complete platform that focuses on the convergence of financial exchange channels, activities, and organizations. They strive to service their clients’ needs by combining the benefits of B2B, B2C, and B2B2C models into a single platform.

They provide a wide range of goods in India and over 75 other countries, including a Front-end centred domestic & global money remittance, foreign exchange, pre-paid gift cards, utility payments, Aadhaar Enabled Payment Services services, PoS services, ticketing services; and back-end focused SaaS and self-hosted solutions for the financial sector, including lending and wealth management operations, bus exchange technology, insurance & healthcare.

Presence

They employ a phygital strategy, which integrates over 650,000 physical agent distribution outlets across India and Southeast Asia for payment solutions, remittance, travel, and insurance goods, with a digital omni-channel internet portal for all of their services.

This results in a difficult-to-replicate company model that aims to provide a consistent client experience independent of product, service, or location.

They have a competitive advantage because of their large network size and diversity, which converges front-end distribution channels with back-end technological operations across the payments solutions, travel, and financial technology industries.

They’ve also had a track record of acquiring relevant businesses and integrating them into their eco-system by leveraging their cost-cutting, compliance, and internal-systems-centric approach.

Business Model

By combining numerous channels for Payment Solutions, Forex, Domestic and International Remittance, Travel, Financial Technologies, Insurance, BPO services, and healthcare in India and certain global locations, they hope to become an end-to-end platform for all customers and a “back-end” platform for corporate participants.

While these services were previously provided by distinct organisations, their purpose is to support their customers’ whole digital journey in a holistic manner by integrating all of these services into their ecosystem.

Converging B2C, B2B, and B2B2C models, front-end and back-end procedures, and specific financing products, services, and functions across both physical and digital platforms is how they do it.

They are specialists in international remittance and foreign exchange, and also digital payments solutions and domestic remittance.

EbixCash IPO

Ebixcash Limited, headquartered in Delhi has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 6,000 crore on 09 March 2022.

The offer includes a fresh issue of 6,000 crore and there is no offer for sale (OFS) by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement of INR 1,200 crore in this issue.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	31-Oct-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	6,935.67	6,793.67	6,466.51	6,552.75
Total Revenue	2664.52	4295.81	2,281.94	2,087.61
Profit After Tax	191.10	230.05	243.34	459.53

Basic and Diluted Earnings Per Share

Financial Period	Basic EPS (in INR)	Diluted EPS (in INR)	Weight
Financial Year 2021	2.66	2.66	3
Financial Year 2020	2.97	2.97	2
Financial Year 2019	4.67	4.67	1
Weighted Average	3.10	3.10
30 Sep. 2021	2.14	2.14

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

The following are some of the qualitative aspects and key strengths that go into determining the Issue Price:

1. Integrated business model that provides a one-stop shop for B2B, B2C, and B2B2C transactions.
2. Working in highly regulated industry with a broad network creates a high barrier to entry.
3. Cross-selling opportunities abound, as do synergies, network effects, and a broad client acquisition reach.
4. Scalable and adaptable proprietary technology solution that may be used to meet a wide range of client needs.
5. Complementary firms were successfully bought, integrated into their network, and turned lucrative.
6. Despite COVID-19-related issues, strong financial achievement with a track record of steady profit.
7. Leadership team has a track record of success.

Ebixcash Peer Comparison

There are no publicly traded companies in India with a business portfolio equal to theirs.

EbixCash IPO Details

IPO Opening Date	March 2023
IPO Closing Date	March 2023
Issue Type	Book Building
Face Value	5 per share
IPO Price	0 to 0 per equity share
Market Lot	–
Min Amount	–
Listing At	BSE, NSE
Issue Size	6,000 Crore
Fresh Issue	6,000 crore
Offer for Sale	0

EbixCash IPO Date

Ebix Cash IPO opening date is March 2023, and the closing date is March 2023. The Ebixcash issue may list in March 2023.

IPO Opening Date	March 2023
IPO Closing Date	March 2023
Basis of Allotment Date	March 2023
Initiation of Refunds	March 2023
Credit of Shares to Demat Account	March 2023
IPO Listing Date	March 2023

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	50	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	35	Minimum 1 lot based on availability

Ebix Cash IPO Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Ebix IPO.

EbixCash IPO GMP

Ebix Cash IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:

Date	GMP (in Rs)	Subject to Sauda	Kostak (in Rs)
March 2023
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Check Out the GMP of all Other IPOs

IPO Grey Market Premium

Ebix Cash IPO Review

Ebix Cash IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of EbixCash IPO is good or bad.

Ebix Cash IPO Risk

1. The COVID-19 epidemic has had and may continue to have negative consequences for them.
2. They primarily engage in fee and commission-based operations, and their financial performance may be harmed if they are unable to collect revenue from these sources.
3. They rely heavily on their information technology systems, and any flaws, disruptions, or failures, as well as data breaches, could have a negative impact on company operations and reputation.
4. Cybersecurity threats are becoming more common and powerful.
5. Any interruption in their internet connections, particularly those to any third-party cloud providers, could compromise the profitability of their internet-based products and services, as well as certain aspects of their physical distribution.
6. Their product and service supply chain is heavily reliant on agents, franchisees, business partnerships with affiliates, and staff.

Other Threats

1. Failure to obtain, renew, or retain the statutory and regulatory permissions and approvals essential to operate their companies could have a negative impact on their operations.
2. Stringent and changing privacy and information protection rules and regulations may result in claims and negatively impact their operations.
3. If their pre-paid gift card business does not continue to develop at the same rate, it may have a negative impact on theirs.
4. Failure to preserve their intellectual property or preserve the integrity of their brand and reputation could have a significant negative impact on their business.
5. Failure to maintain high levels of customer service, products, and fast resolution of customer complaints could have a material and negative impact on their business and operating performance.

Technology

They offer adaptable and adjustable proprietary technology to their clients across a number of capabilities and client expectations, and even within their wealth, asset, and credit management offerings & bus swaps and travel platforms. They also got Capability Maturity Model Integrated Level 3 quality accreditation.

They are a technology agnostic firm that has adopted the most up-to-date software development tools from a wide range of software platforms without being bound by any one of them.

They ‘ve made SaaS and cloud-based on-demand services a key element of their business strategy and technology roadmap. Using boot-strap technology, their products work on all hand-held devices, PCs, & Apple platforms, with the graphic user interface adapting to the machine being used by the end user.

Ebix Cash IPO Brokerage views

once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this EbixCash IPO:

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Ebix Cash IPO Subscription Status

Date	Day	QIB	NII	Retail	Employees	Total Subscription
March 2023	1
March 2023	2
March 2023	3

Ebixcash Management

The leadership team is skilled and seasoned, led by Robin Raina, their Chairman of the Board and Non-Executive Director, and backed by an engaged and talented pool of valued personnel.

GuruPrasad Tiruvanamalai Chandrashekaran, Bhupesh Tambe, Dhawal Kamath, Sumit Khadria, Aruna Savant, and Naveen Kundu are some of their Key Management Personnel (“KMP”), who are critical to the success of their company and daily operaions of the company.

Their executive team has extensive experience in important areas including entrepreneurship, payment solutions, technology, tourism, and finance, and can use their combined years of experience to grow and improve their company.

They have spearheaded the process of creating value via operational growth, brand recognition and commitment, and the identification of new commercial prospects.

Promoters

• Ebix Singapore Pte. Ltd
• Ebix, Inc.

Promoter’s Holding

Pre Issue Share Holding	100.00%
Post Issue Share Holding

Ebixcash limited Prospectus