Explained: What Are SPACs And Should It Be Introduced In India?

What are SPACs and how do they operate? A blank cheque company or a Special Purpose Acquisition Company (SPAC) is a popular route in the foreign markets to raise money via an Initial Public Offering (IPO). They then scout for new-age companies including start ups that need funds for expansion. For example, recently a SPAC called the Stonebridge Acquisition Corp raised $200 million via an IPO in the United States and got listed at NASDAQ. StoneBridge Acquisition Corp is sponsored by GSS Infotech and aims to acquire its target in…

Read More