Indian company Ebix plans to launch an Initial Public Offering (IPO) as its revenues increase
In the face of the ongoing Covid-19 pandemic, several sectors have felt its impact, including consulting, travel, remittances, and e-learning. However, one company, EbixCash, has managed to thrive amidst the challenges.
EbixCash recently published its Q4 and FY 2021 results, reporting a significant 59% year-on-year (YoY) revenue climb to $991 million. The India-based consumer platform was the primary driver of this growth, with Q4 revenue growing by 39% to $266 million.
EbixCash's Risk Compliance Solutions segment also saw its first positive growth of 17% this year. This growth was particularly noteworthy considering the challenges faced by the industry.
One of the key contributors to EbixCash's success has been its remittances division. In India, remittances saw a significant growth of 94% YoY, making it the only segment to see consistently positive growth over the past five years.
Despite this impressive growth, EbixCash has not been immune to the effects of the pandemic. The company continued to face headwinds from Covid-19, particularly in travel, remittances, e-learning, and global consulting revenues. However, it managed to navigate these challenges effectively.
Looking ahead, EbixCash is planning to go public in India, with an Initial Public Offering (IPO) of up to $787 million. Around $350 million from the IPO proceeds will be used to reduce the company's outstanding debt.
Interestingly, EbixCash is the only segment to see growth in all geographies except for the UAE. The current changes to remittances in India are not detailed in the search results provided, with the results mainly covering unrelated financial, legislative, and geopolitical topics without specific information on remittance policy or adjustments in India.
On the other hand, Insurance Exchanges have been shrinking every year. This trend contrasts starkly with the growth seen in EbixCash's various segments.
In conclusion, EbixCash has demonstrated resilience and growth in a challenging market environment. Its planned IPO in India, aimed at raising up to $787 million, is a testament to its strong performance and promising future.
Read also:
- User Data Analysis on Epic Games Store
- Rachel Reeves conducts a discussion with Scott Bessent and financial executives, focusing on investment matters
- Hyundai accelerates production plans: Introducing 7 new N models, aiming for a sales figure of 100,000 units by 2030.
- Yasa, an electric car engine producer, plans to broaden its operations.
%20as%20its%20revenues%20increase){kind=link}