Reliance Entertainment CEO Shibashis Sarkar forms SPAC, files for $230 million IPO in US
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Synopsis
The company, International Media Acquisition Corp (IMAC), has filed for a $230 million (Rs 1,715 crore) initial public offering in the US and listing on the Nasdaq. The US Securities and Exchange Commission has approved its proposal.
Agencies
Sarkar, who has more than 27 years of experience in the media industry, is the chairman and CEO of IMAC.
Shibashish Sarkar, the group chief executive of Reliance Entertainment, has set up a special purpose acquisition company (SPAC) — also known as a blank check company — to explore acquisition opportunities in the media and entertainment space in India, North America, Europe and parts of Asia.