Special purpose acquisition companies (SPACs): India
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[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F06%2F15&entity=Ar01511&sk=599EA593&mode=text June 15, 2021: ''The Times of India''] | [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F06%2F15&entity=Ar01511&sk=599EA593&mode=text June 15, 2021: ''The Times of India''] | ||
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At least two other India-related SPACs have said they intend to raise capital in the US. This includes one by Reliance Entertainment CEO Shibasish Sarkar and AP International Group managing partner Sanjay Wadhwa.Another is by Ravi Adusumalli, founder of Elevation Capital and Shashin Shah, portfolio manager at Think Investments, and it intends to take Indian unicorns public in the US. | At least two other India-related SPACs have said they intend to raise capital in the US. This includes one by Reliance Entertainment CEO Shibasish Sarkar and AP International Group managing partner Sanjay Wadhwa.Another is by Ravi Adusumalli, founder of Elevation Capital and Shashin Shah, portfolio manager at Think Investments, and it intends to take Indian unicorns public in the US. | ||
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Latest revision as of 07:51, 17 June 2021
This is a collection of articles archived for the excellence of their content. |
[edit] Global Consumer Acquisition Corp
[edit] 2021
June 15, 2021: The Times of India
Private equity veteran Rohan Ajila and Manipal Technologies chairman Gautham Pai’s consumer sector focused SPAC (special purpose acquisition company) has raised $170 million in an IPO in the US. This probably marks the first fund raise by an India-related SPAC.
The SPAC, called Global Consumer Acquisition Corp (GCAC), is listed on Nasdaq. SPACs, also known as blank-cheque companies, are shell companies that launch IPOs with a promise to invest in or acquire a company within a set timeline – normally18 to 24 months. SPACs have become extremely popular among investment firms and startups over the past two years.
“We intend to focus on global consumer companies with a significant Asia presence or a compelling Asia potential, especially India,” said Ajila, co-chairman and CEO of GCAC. “This complements the expertise of our management team in cross border M&A, business development and Asia/India expansion,” he said.
At least two other India-related SPACs have said they intend to raise capital in the US. This includes one by Reliance Entertainment CEO Shibasish Sarkar and AP International Group managing partner Sanjay Wadhwa.Another is by Ravi Adusumalli, founder of Elevation Capital and Shashin Shah, portfolio manager at Think Investments, and it intends to take Indian unicorns public in the US.
