Eraaya Lifespaces on Friday announced the successful completion of the payment of USD 151.577 million (~ Rs 1273.25 crore) for the acquisition of Ebix Inc. USA and its global subsidiaries. 

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“This monumental acquisiƟon represents a significant leap forward, redefining the stature of all the stakeholders in the global scale. Ebix ushers in a transformaƟve new era, brimming with unparalleled energy and seƫng the stage for both Eraaya and Ebix to achieve unprecedented heights of growth and success,” said Dr Vikas Garg.

The acquisition concluded following a successful bid in June 2024, witnessed Eraaya’s consortium emerging as the top bidder in the auction managed by the U.S. Bankruptcy Court. 

The acquisition encompasses full ownership of Ebix Inc. and its global subsidiaries, integraƟng all associated assets and liabilities at an enterprise value commeasuring to USD 361 Million (~Rs 3009 Crores) Approx.

Earlier, the Consortium led by Eraaya had submitted a bid to acquire 100 per cent Equity of Ebix Inc. during June 2024, which had been subsequently approved and accepted as the highest and best bid for Ebix Inc and eventually declared as the winner following the auction process overseen by the US Bankruptcy Court at an ascribed enterprise value of USD 361 Million (INR 3,009 Crores approximately).