At an Ebix management meet hosted by Robin Raina in October, online travel aggregator (OTA) Yatra was the toast of the town. Indeed, at an event that saw the who’s who of politics, media, Bollywood, and sports turn up, Yatra’s entire top brass was front and centre. Raina, the founder and CEO of Ebix, a US-based software company, proudly introduced Yatra as part of the “Ebix family”, according to a source who attended the event.
Calling it quits
Ebix, Yatra, and the $337 million deal that got away
For Ebix, Yatra was the final piece in its Indian IPO puzzle. For Yatra, Ebix was a life-preserver in the stormy Indian traveltech space. With their merger terminated, both companies face tough times ahead
The Ebix-Yatra deal, the final frontier for Ebix’s corporate travel ambitions in India, has been terminated
While it queers the pitch for the survival of Yatra, India's second largest OTA, it has also raised questions over EbixCash’s future
Ebix’s spree of Indian acquisitions has not been integrated well, leading to inefficiency. Now, Covid is hurting its core offerings—forex, remittances and travel
With EbixCash's business struggling, Ebix’s shareholders are concerned about its $713.9 million mountain of debt