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

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