Tag Archives: EbixCash

Eraaya Lifespaces’ subsidiary, EbixCash, has delivered outstanding performance for the quarter ended December 2024, achieving a Gross Merchandise Value of ₹10,030 million, net revenue of ₹1,110 million, and a healthy EBITDA of ₹75 million. Mercury, encompassing corporate travel, MICE, luxury trains, and Swiss travel contributed ₹585 million in revenue.

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.”

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.”

EbixCash joins hands with Sheraton Travels to inaugurate their new EbixCash Travel Experience Centre in Connaught Place, Delhi. Naveen Kundu, Managing Director, EbixCash Travel, announced, “We plan to open approximately 30 centers similar to this one in tier two, tier three, and tier four cities across the country.”

Ebix Inc. filed for bankruptcy in the US. Responding to the news, Naveen Kundu, Managing Director, Ebixcash Travel Services, stated, “This credit protection is applicable solely to Ebix companies in the United States. It does not apply to EbixCash or any other Ebix international companies.”

Naveen Kundu, MD, Ebixcash pointed out “India is set to become a domestic cruise hub, but regulations, cruise lines, and infrastructure need immediate attention”. Additionally, he informed cruises will come to India if there is favourable environment and infrastructure

Naveen Kundu, MD, EbixCash termed the hospitality industry as the ‘sunrise industry’ having an immense potential. “80 per cent growth is expected from the hospitality industry over the next 5-7 years. Today, 25 % of the FDI coming to India will come through hospitality industry,” he said. 

Naveen Kundu, Managing Director, EbixCash, said, “With all the macro-economic indicators, ongoing infrastructure development, and the government’s vision will position India as an ideal and forefront M!CE destination for businesses all over the world soon.”  

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.”

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.