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India-related SPAC raises $170mn on Nasdaq


India-related SPAC raises $170mn on Nasdaq
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India-related SPAC raises $170mn on Nasdaq
TNN / Jun 15, 2021, 05:49 IST
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BENGALURU: 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. ....

Shibasish Sarkar , Gautham Pai , Rohan Ajila , Shashin Shah , Ravi Adusumalli , Global Consumer Acquisition Corp , Ap International Group , Manipal Technologies , Reliance Entertainment , Elevation Capital , Think Investments , கௌதம் பை , ஷாஷின் ஷா , மணிப்பல் தொழில்நுட்பங்கள் , நம்பகத்தன்மை பொழுதுபோக்கு , உயரம் மூலதனம் , சிந்தியுங்கள் முதலீடுகள் ,