EbixCash, Survival Applied sciences salvage Sebi nod to launch IPO

Two corporations, EbixCash and Survival Applied sciences, absorb bought capital markets regulator Sebi's nod to launch their preliminary public offers.

EbixCash and Survival Applied sciences absorb bought final observations from Sebi. In the regulator's parlance, a final observation letter is corresponding to approval.

Noida-primarily based EbixCash, a know-how-enabled provider of digital merchandise within the B2C and B2B discipline, is planning to raise Rs 6,000 crore thru its IPO.

The IPO is fully unusual equity of shares of face rate of Rs 1 every.

Additionally, the firm can even fair put in mind a extra venture of specified securities thru a non-public placement aggregating as much as Rs 1200 crore. If such placement is done, the unusual venture size will be diminished.

The firm plans to consume its proceeds for working capital requirements, salvage of outstanding convertible debentures from its subsidiaries, and funding strategic acquisitions and investments.

EbixCash has four foremost industry segments, rate solutions, walk, monetary applied sciences, and industry processing outsourcing (BPO) services and products and beginning-up initiatives.

The firm offers a diversity of merchandise in India and over 75 global jurisdictions, along side entrance-halt centered domestic and global cash remittance, international alternate, prepaid gift cards, utility funds, and Aadhaar Enabled Payment Services and products (AEPS) services and products, among others.

Motilal Oswal Investment Advisors, Equirus Capital Deepest, ICICI Securities, SBI Capital Markets and Yes Securities (India) are the book-operating lead managers for the venture, and Link Intime India is the registrar.

Meanwhile, Mumbai-primarily based speciality chemical maker Survival Applied sciences is taking a gaze to raise Rs 1,000 crore thru the preliminary fragment sale, consisting of a weird venture of equity shares rate as much as Rs 200 crore and a proposal-for-sale (OFS) of as much as Rs 800 crore.

The firm can even fair put in mind a Pre-IPO placement the venture size will be diminished accordingly, if it is carried out.

The proceeds from the unusual issuance rate Rs 175 crores will be ancient in the direction of funding its working capital requirements and basic corporate purposes.

Survival Expertise is considered one of many few speciality chemical producers in India manufacturing pick merchandise from the heterocyclic and fluoro organic product teams within the marketplace in India and globally. Its key prospects embody multinational companies corresponding to Evonik Industries, Chori Co, and BioSpectra Inc, among others.

JM Financial and ICICI Securities are the book-operating lead managers, and Link Intime India Deepest is the registrar of the venture.

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