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EbixCash IPO gets SEBI clearance +6

11:24 10-Apr-23


Ebix has announced that it has received SEBI for its EbixCash IPO.  EBIX shares had opened around $14 and jumped nearly 25% in the initial response.  However, as implied this morning, actually getting the IPO priced, let alone closed, before the extended May 23rd debt deadline will be a challenge at this point.  Furthermore, I find the timing of two disclosures even more suspect than most business in India.  Fortunately, I've had little to do with EBIX shares on either the short or long sides for many months.