Ebix Inc

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Related tickers: YOSH, ZVSA, EBIX, NFTG, BMRA, ETAO, BLUE, HRYU, AHI, ZJYL, ICCT, MOTS, SOBR, PBLA, NXU, IFBD, BYTS, EGGF, SIDU, TCRT.

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 ...

Related tickers: EBIX, BLK.