The deal marks Ebix’s biggest acquisition to date in India.
The aim is to reduce the Apollo shares pledged by the family as collateral to lenders to 20% of their total holding in the company from about 78% now.
The enterprise software segment is heating up as investors scour the industry for India’s next startup giants.
IPOs & Markets
Greenko is looking to raise up to $750 million to $1 billion through the bond sale.
100X.VC is sector-agnostic and will invest in startups having disruptive business models, high growth and scale.
The fundraise will help Procol scale its procurement platform.
Ninjacart has secured $437,000 in funding from Clark Valberg, the founder of InVisionApp Inc.
Rivigo has also withdrawn around 50 offers from 10 premier campuses.
The payments offering has been in beta mode in India since early 2018.
The FMO loan supports the expansion of Aye’s loan portfolio in India.
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