EBIX - What Ebix Inc's Financial Struggles Mean For EbixCash And Its India IPO Ambitions | Benzinga
This story was first published on the Benzinga India portal.
Under the helm of Robin Raina, Ebix Inc. (NASDAQ: EBIX) has declared bankruptcy in the U.S. amidst a towering debt exceeding $600 million. This development has thrown a shadow of uncertainty over the future of the company's Indian arm, EbixCash, a notable player in the fields of forex, gift cards, and payment services.
The financial turbulence of the NASDAQ-listed parent company originates from its failure to clear loans. The corporation had banked on resolving this issue by amassing ?6,000 crore (approximately $806 million) through an initial public offering (IPO) of EbixCash. Despite securing the necessary regulatory green lights, the IPO has not ...