Ebix Subsidiary EbixCash Commences IPO Exercise

ICICI Securities, Axis Capital, SBI Capital & Edelweiss Monetary Companies are Lead Managers to the Proposed IPO

NOIDA, India and JOHNS CREEK, Ga., April 16, 2021 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: EBIX), a number one worldwide vendor of On-Demand application and E-commerce companies to the insurance, financial, healthcare and e-finding out industries this present day announced that its EbixCash Indian subsidiary has made up our minds to start out work with rapid assemble, resulting in the proposed IPO of EbixCash. The Firm made that determination after a gathering of the total four investment bankers with the Firm about a days motivate. ICICI Securities, Axis Capital, SBI Capital & Edelweiss Monetary Companies are Lead Managers to the proposed EbixCash IPO.

Accordingly, the Firm has made up our minds to eliminate two statutory auditors in a dual auditor characteristic (a named nationwide auditor and a named worldwide auditor) for the IPO, to start out the three-365 days audit exercise resulting in filing of the draft red herring prospectus (DRHP), with the Securities and Change Board of India. DHRP is the preliminary registration doc ready by the investment bankers for the seemingly IPO. The Firm is targeting the filing of the DHRP by the fourth quarter of 2021 with a targeted IPO in the first quarter of 2022.

EbixCash moreover announced earlier that it has already engaged the home and worldwide moral companies for this exercise. The Firm has moreover chosen a BIG4 accounting firm for the market and product diagnosis sections of the DHRP. Over the following couple of months, the Firm will be participating about a other companies for different aspects of the DHRP.

Just a few weeks motivate, the Firm had announced the addition of SBI Capital Markets because the fourth Lead Manager for the EbixCash IPO, along with ICICI Securities, Axis Capital & Edelweiss Monetary Companies who gather been appointed Book Running Lead Managers for the IPO earlier. ICICI Securities serves because the Left Banker for the IPO.

SBICAP, ICICI, Axis and Edelweiss are regarded as amongst the tip investment bankers in India in terms of reach, selection of issues handled, money raised and total efficiency. Each of them appears to be like in many of the tip 5 rankings of investment banks in India. All of these companies thought to start out equity study coverage of EbixCash after the IPO.

EbixCash this present day is one of India’s prime on-quiz financial and insurance exchanges, with a "Phygital” map that mixes 320,000 physical distribution outlets in many Southeast Asian Countries (“ASEAN”) countries, to an Omni-channel online digital platform. The Firm’s EbixCash Monetary change portfolio encompasses management in areas of home & worldwide money remittance, foreign change (Foreign change), tear, pre-paid & gift cards, utility payments, lending, wealth management and so forth. in India and other markets.

About EbixCash and Ebix, Inc.

With a "Phygital” map that mixes 320,000 physical distribution outlets in many Southeast Asian Countries (“ASEAN”) countries, to an Omni-channel online digital platform, the Firm’s EbixCash Monetary change portfolio encompasses management in areas of home & worldwide money remittance, foreign change (Foreign change), tear, pre-paid & gift cards, utility payments, lending, wealth management and so forth. in India and other markets. EbixCash’s Foreign change operations gather emerged as a prime in India’s airport Foreign Change commercial with operations in 32 worldwide airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in wrong transaction worth per 365 days. EbixCash’s inward remittance commercial in India conducts approx. $6.5 billion wrong annual remittance commercial, confirming its undisputed management plight in India. EbixCash, by design of its tear portfolio of By job of and Mercury, is moreover one of Southeast Asia’s leading tear exchanges with over 2,200+ staff, 212,450+ agent community, 25 branches and over 9,800 company shoppers; processing an estimated $2.5 billion in wrong merchandise worth per 365 days. EbixCash’s Monetary Technology choices are this present day deployed across prestigious financial establishments and Banks in 44 countries. For extra recordsdata, refer to the Firm’s web characteristic at www.ebixcash.com

With 50+ places of work across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to manufacture On-Demand application and E-commerce companies to the insurance, financial, healthcare and e-finding out industries. In the Insurance coverage sector, Ebix’s necessary heart of attention is to plot and deploy a broad selection of insurance and reinsurance exchanges on an on-quiz foundation, while moreover, providing Tool-as-a-Service ("SaaS") project choices in the put of CRM, entrance-shatter & motivate-shatter programs, outsourced administration and risk compliance companies, around the field. For extra recordsdata, refer to the Firm’s web characteristic at www.ebix.com

CONTACT:

Darren Joseph

IR@ebix.com or 678 281 2027

David Collins or Chris Eddy

Catalyst International - 212-924-9800 or ebix@catalyst-ir.com

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