US bankruptcy filing: Ebix’s India business may change hands

EbixCash may undergo ownership change as its parent company, Ebix Inc, filed for bankruptcy under Chapter 11. However, EbixCash’s operations in India remain unaffected. The bankruptcy proceedings only apply to Ebix entities in the US, while the international entities, including EbixCash in India, are excluded. Ebix Inc had acquired Centrum Direct and Itz Cash in India, and there is interest in reacquiring the forex business. EbixCash’s plans for an IPO to repay its parent company will likely be affected by the bankruptcy filing.