India’s ‘Buoyant’ Startup Culture Shut Out of Global SPAC Hunt
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Companies in India remain almost completely locked out of being acquired by special-purpose acquisition companies nearly a year after India’s finance minister promised to relax foreign investment rules and let SPACs buy and list its companies.
The number of SPAC deals that have taken Indian companies public on the U.S. stock exchanges remains stuck at exactly three—even as an estimated $120 billion in capital seeks deals in Asia.