JOHNS CREEK, Ga., July 15, 2023 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: Ebix), today issued an informational release with a few clarifications and updates to the previously issued strategic update
release on July 14, 2023.
Ebix clarified that the term “restated” financial information refers to Consolidated Financial Information to be presented in Offer Documents, Among otherfor Public Issues in terms of the
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements Regulations), 2018, as amended and is being done solely in relation to the EbixCash IPO. It is
done in a manner to ensure consistency of presentation, disclosures and the accounting policies for all the periods presented is in line with that of the latest financial year/ stub period
presented. Further, the change in role of Ebix Payment Services consequent to the amendments made in the contractual arrangement(s) with the PPI Issuer(s) for future periods, in line with the RBI
Letter, requires that future financials of Ebix Payment Services from financial year commencing April 1, 2023 be recorded on a net basis. It is further clarified that: