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US SPAC may soon become the instrument of choice for Indian start-ups

Even if a handful of good companies can raise money through the SPAC route and can perform post listing, US investors will start looking at Indian companies to invest in, just as they did with Chinese companies over the last decade

July 07, 2021 / 09:35 AM IST
US SPAC may soon become the instrument of choice for Indian start-ups

NMDC | The company sold 3.18 million tonnes of iAmong the list, 11 stocks have already more than doubled from their issue price. For example, Happiest Minds Technologies and Route Mobile have gained 586 percent and 406 percent, respectively, from their issue price. Only 4 out of 40 IPOs turned out to be losers. These are Brookfield India Real Estate Trust, Indian Railway Finance Corporation, Kalyan Jewellers India and Suryoday Small Finance Bank.ron ore in June 2021, higher from 2.48 million tonnes of iron ore sold in June 2020. The production of iron ore stood at 2.98 million tonnes against 2.52 million tonnes in same period.

Even as the Indian government is still working out the nuances of allowing Special Purpose Acquisition Companies (SPACs) to operate in the country, Indians and Indian companies are already rushing to take advantage of the financing instrument. Media reports say that many Indian individuals are busy floating or investing in SPACs. High net worth individuals are using various routes to take advantage of the instrument that is in vogue in the US. SPACs have been around since the 1990s but have...

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