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Can achieve operating margin of 30% in next 6-12 months, says Ebix's Robin Raina

Updated : July 17, 2019 09:30 PM IST

The US-based NRI-run Ebix Group on Wednesday said the company can achieve an operating margin of 30 percent in the next in the 6-12 months after

it acquired domestic travel portal Yatra for an enterprise valuation of $337.8 million(over Rs 2,300 crore) through a merger.

In an interview to CNBC-TV18's Priya Sheth, Robin Raina, chairman and chief executive officer, said, "It is a pure equity deal, where we are exchanging Ebix preferred shares which are convertible into Ebix common stock for the value of the deal, for the $239 million."

"We are making a debt-free acquisition, we are not taking on any debt. There is no cash component in the deal, it is a stock to stock deal," Raina said, "Once the merger is approved by the shareholders, we will acquire 100 percent of the shares, so it won't really matter who owns what percentage as Ebix would own 100 percent of the shares of Yatra at that time."
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