JOHN’S CREEK, Ga., Oct. 21, 2022 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: “Ebix”), a leading international provider of on-demand software and e-commerce services for the insurance, financial and healthcare industries, and e- Learning Industries, announced today that it is providing an update on the status of its business while confirming a strong business outlook going forward.
- Strategic Investment Committee – The Company announced that it has received in-depth interest from several prominent international strategic and institutional players for significant investments in Ebix and/or its subsidiaries. Accordingly, the Strategic Investment Committee of the independent Board of Directors will consider such offers in consultation with its investment banking and legal advisers.
- Investing in EbixCash – The Company also announced that its Indian subsidiary is evaluating interest in a significant minority stake in EbixCash from a number of reputable international players, in line with the previously filed DRHP.
- Investment Banker Engagement – Ebix also stated that it is currently actively using the services of a number of reputable international bankers to refinance its existing credit facilities. The company also announced that it received an exploratory term sheet from one of its existing lenders. The company will announce further details of the refinancing as soon as a firm agreement has been reached on the refinancing side.
- EbixCash IPO Update – The company is hoping for an expeditious approval of its subsidiary’s DRHP which will lead to the filing of the RHP and eventual IPO. In addition, EbixCash has already received the basic approval of the two exchanges BSE and NSE. The company reiterated its commitment to an expeditious IPO in line with Indian regulatory and compliance guidelines.
- EbixCash Compliance Update – EbixCash has received all required license renewals for future periods for its various regulated businesses, including foreign exchange, prepaid card businesses and the…
