Vahanna Tech Edge Acquisition I filed to offer 15 million units at a $10 per unit price. A unit consists of one share and one-half of a warrant.
The new SPAC plans to target companies with a strong connection to India and catering to large addressable market opportunities in India or other developed geographies such as the Americas and Europe. The focus will be based on broad categories within the technology sector, with an enterprise value ranging from $750 million to over $1 billion.
CEO Karan Puri in 1990 co-founded Axiscades (formerly IT&T), an India-based IT infrastructure management services company.
Mizuho is sole bookrunner for the offering. The underwriters have an option to purchase up to an additional 2.25 million units to cover over-allotments, if any.
Vahanna in the filing said it has applied to list on the Nasdaq under VHNAU. Read more.
