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Delphi’s ₹2,000 Crore Playbook: Travel, Tech, and a Bold New Chapter

Updated: July 09, 2025 10:52

Image Source: Trading View
Delphi World Money Ltd (DWML), a leading foreign exchange and financial services firm, has approved a strategic consolidation of Ebix Group’s travelrelated businesses under its umbrella. The move is aimed at streamlining operations, unlocking synergies, and enhancing shareholder value amid a broader restructuring of Ebix’s India portfolio.
 
Key Highlights of the Consolidation:
  • Ebix’s travel verticals, including Ebix Travels Pvt Ltd and other affiliated entities, will be merged into DWML
  • The integration will bring together travel booking, forex, and remittance services under a unified brand
  • DWML will assume operational control and financial oversight of the consolidated travel assets
  • The move is expected to improve crossselling opportunities and operational efficiency across Ebix’s India network
Fundraising Plan:
  • DWML’s board has approved raising up to ₹2,000 crore through a mix of equity and debt instruments
  • The funds will be used to support the integration process, expand travel infrastructure, and strengthen working capital
  • Institutional investors and strategic partners are expected to participate in the funding round
  • The capital infusion will also help DWML mitigate exposure to grouplevel liabilities and improve its standalone credit profile
Why It Matters:
The consolidation marks a pivotal shift in DWML’s business model, positioning it as a multiservice financial and travel powerhouse. With Ebix Inc. undergoing restructuring abroad, DWML’s move signals a renewed focus on Indiacentric growth and operational independence.
 
Sources: CARE Ratings, BlinkX, Moneycontrol, Business Standard, Delphi World Money Investor Disclosures, EbixCash Annual Reports

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