Entrepreneurial spirit can be ceaselessly observed to find increasing acceptance in India. The nation, having emerged as the third largest ecosystem for startups across the globe is clearly reflective of the rising spirit for commercial conquest, inclusive of overseas expansion. One of the recent emerging structuring tools to realize the said commercial conquest is through Special Purpose Acquisition Companies (“SPACs“).
SPACs are companies that are specifically created to act as instruments to raise funds for unlisted companies through an initial public offering. SPACs combine with such unlisted companies by way of mergers, thereby enabling such companies to get listed without undergoing the conventionally mandated process of listing in stock exchanges. These can be employed for domestic as well as international listing, depending on the validity of SPACs in the concerned jurisdictions.
Please click here to read the full article by Gaurav G Arora and Aditi Richa Tiwary, published in Mondaq.
Gaurav G. Arora is a Partner at JSA with over 12 years of experience advising multinational corporations, investment funds, and high-growth businesses on mergers & acquisitions, private equity investments, corporate structuring, cross-border transactions, foreign direct investment, and general corporate matters. He regularly advises clients on complex domestic and international transactions across the technology, healthcare, manufacturing, real estate, retail, and services sectors. Gaurav is recognised as an ALB India Rising Star and among the Top 10 Young Lawyers by ALB Thomson Reuters.