Vikas Lifecare Invests $34.827 Million in Strategic Ebix Acquisition

Vikas Lifecare Limited, part of a consortium led by Eraaya Lifespaces Limited, has made significant progress in its acquisition of Ebix Inc. The consortium has remitted USD 35.75 million to date, with Vikas Lifecare contributing USD 34.827 million. The total enterprise value of the acquisition is set at USD 361 million. Additional payments of USD 20.6 million are scheduled for July 2024, with the remaining balance to be settled in August 2024. This acquisition, approved by the U.S. Bankruptcy Court, will result in the consortium obtaining 100% equity in Ebix, including its global subsidiaries' assets and certain liabilities.

 

Source: BSE India, Angel One