Investcorp India Acquisition in an amended S-1 filing disclosed it will now offer 22.5 million units at $10 each, down from the 25 million initially registered with the SEC in June last year. The SPAC was originally registered underr the name Investcorp Acquisition.
Each unit still consists of one Class A ordinary share and one-half of a redeemable warrant, with whole warrants exercisable for a share at $11.50.
Citigroup and Jefferies are joint book-running managers for the offering.
Investcorp India’s focus is on the healthcare, software, consumer, fintech an IT sectors in primarily India and South East Asia, with an enterprise value greater than $1 billion.
The company is led by Principal Executive Officer Nikhil Kalghatgi, who has been head of alternative investments at S.P. Hinduja Banque Privee since 2020. He was previously a Partner at CoVenture, investing primarily in high-yield asset-backed credit opportunities and creating quantitative trading strategies.
The SPAC intends to apply for a listing on the Nasdaq under IVCAU. Read more.
