Millions of dollars hidden in plain sight in Robin Raina’s Ebix maze

While Indian-origin businessman Robin Raina’s EbixCash is desperate to tap the public markets to raise money, prospective investors need to exercise knowledge and caution of this maze of an enterprise.

For some time now, Indian-origin businessman Robin Raina’s Ebix Inc. has been desperately in search of money. This is because over the past few years, the NASDAQ-listed company has taken on copious debt to fund its expansion into several ventures and geographies. 

About $600 million of that debt comes due in the near term. It is this repayment that Raina has been constantly restructuring with a consortium of US banks, holding out the hope of getting money once the company’s India business gets listed.

Besides, the Ebix stock remains a hot target of short sellers, including the now famous …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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