Soon India may have its own version of a “blank cheque company,” The Hindu BusinessLine reports. Like in the US, market regulator SEBI is likely to allow the listing of SPACs.
SEBI told the Parliamentary Standing Committee on Finance that it was deliberating on the framework of SPACs in Indian capital markets and a committee, which was set-up to look into it, is in the process of finalising its report.
The company law committee report of the Ministry of Corporate Affairs (MCA) of February 2022, recommended introducing an enabling provision to recognise SPACs under the Companies Act and allowing a SPAC incorporated in India on domestic and global exchanges. Read more.
