Payments and software company Ebix Inc. is seeking to raise cash to pay back some $600 million in debt due early next year, but time is running short as it awaits regulatory approval for a public offering in India while facing allegations of improper accounting from short sellers.
Nasdaq-listed Ebix, based in Johns Creek, Ga., today does the majority of its business in India. Once an enterprise software company for the insurance industry, it rapidly transformed into an international payments and software business through a series of debt-funded acquisitions in India under longtime Chief Executive Robin Raina.
Source: https://www.wsj.com/articles/india-focused-payments-company-ebix-races-to-raise-cash-against-debt-deadline-11667571866?siteid=yhoof2&yptr=yahoo