Khaitan advises Itz Cash Card on acquisition

Khaitan & Co advised Itz Cash Card in relation to acquisition by Ebix, Inc., USA of 80% stake in Itz Cash from the PE Investors viz. Matrix Partners, Lightspeed Venture Partners and Intel Capital, original promoters and employees of Itz Cash Card. Itz Cash is an unlisted company engaged in the business of prepaid instruments, corporate gift cards and providing technical services to financial institutions for issuance of open loop cards.

Sharad Abhyankar (Partner) and Tanish Gupta (Associate) led the transaction and acted as the legal advisers to Itz Cash and selling promoter shareholders.

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