Eraaya Lifespaces Limited announced the successful completion of a USD 151.577 million (approximately Rs 1273.25 crores) payment for the acquisition of Ebix Inc. USA and its global subsidiaries.
With this significant development, the Chapter 11 proceedings for Ebix Inc. are concluded, and Eraaya will now be the holding company for Ebix Inc. and all its subsidiaries.
The acquisition, completed following a successful bid in June 2024, saw Eraaya’s consortium emerge as the top bidder in the auction conducted by the U.S. Bankruptcy Court.
The deal includes full ownership of Ebix Inc. and its global subsidiaries, integrating all associated assets and liabilities at an enterprise value of approximately USD 361 million (Rs 3009 crores). This milestone marks a transformative moment for both Eraaya and Ebix, signaling the beginning of a future filled with exciting new opportunities.