Tag Archives: EbixCash

India’s M!CE market is 30 mn pax, industry must collaborate & innovate to boost this business: Kundu

Naveen Kundu, MD, EbixCash Travel, said, “The size of the MICE market is about 30 million today, including domestic and international. Therefore, there is a huge potential for the organised M!CE industry to come together, collaborate, innovate, and then handle the entire mammoth business that is coming our way.”

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Investments to surge in India’s tertiary cities, hospitality & tourism sectors prime for growth

Naveen Kundu, Managing Director, EbixCash Travel, said, “Investments will pour into India, as the focus is rapidly shifting to 100-150 cities, towns, and districts of India. This is where growth will come from, primarily driven by funds that will invest in real estate, hotel projects, convention centers among others.”

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India to become a global M!CE destination in 10 years, due to convention centers: Kundu

Naveen Kundu, MD, Ebixcash predicts that India will have a vast network of convention centers in 30 cities over the next decade, which will be a great attraction for global incentive travel, meetings, and conferences. Kundu highlighted India’s flourishing exhibition market and said, “It is very optimistic that India is going to be a booming MICE over the next 10 yrs.”

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Ebixcash files draft papers for ₹6,000-cr IPO with Sebi, may explore pre-IPO placement of up to ₹1,200 crore

Ebixcash has filed draft papers with Securities and Exchange Board of India (Sebi) for ₹6,000 crore IPO. The initial public offering (IPO) comprises of fresh equity issue aggregating up to ₹6,000 crore. Further, the issue includes a reservation of part equity shares for subscription by eligible employees. The employee reservation portion will not exceed 5% of post-issue paid-up equity share capital. Also, the company may explore a pre-IPO placement of up to ₹1,200 crore. If such a placement is completed, the issue size will be reduced.

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EbixCash wins prestigious long-term contract to automate and digitize West Bengal’s and Kolkata’s bus ticketing and fare collection system 

EbixCash has been awarded the prestigious contract to design, develop, build, install, maintain, operate, and transfer the Intelligent Transport Management System (ITMS) for all state buses operated by two government-owned transport companies: Calcutta Public Transport Corporation (CSTC) and West Bengal Transport Corporation (WBSTC). EbixCash will implement the on-demand bus automation system over a minimum of 1,500 buses in the state. The initial contract term is 7 years, with EbixCash rolling out the platform over the next 3 months.

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