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.
Five months on from welcoming Yatra into the fold, Yatra is out of the family. Ebix’s attempts to acquire it in a $337.8 million deal have flamed out in spectacular fashion.