Market

Stonebridge raises $200 mn to deploy in Indian, APAC cos; lists on Nasdaq

Stonebridge Acquisition Corporation (SBAC), a particular function acquisition company (SPAC), on Monday introduced to have raised USD 200 million or Rs 1,400 crore from world traders for investing into Indian firms.

The SPAC has been promoted by serial entrepreneur Bhargav Marepally, the chief government of GSS Infotech, and Prabhu Antony, a co-founder of Hong Kong-based monetary establishment Sett and Lucas, and listed on the Nasdaq after the preliminary public providing.

SBAC, a newly integrated ‘clean cheque company’, goals to full its goal acquisition inside 12-16 months, the assertion stated.

It added that it’s going to goal the ‘new financial system sectors’ like shopper know-how, communications, software, SaaS (software as a service), fintech, media, and renewables.

The focus for SBAC is on companies in the Asia-Pacific area, with a particular emphasis on India, particularly these with enterprise values between USD 1-1.5 billion.

“Our plan is to actively contain with firms which have immense scope for development which can be actively on the lookout for development capital to broaden in the Asia-Pacific area.

“In particular, we will be looking at companies in India that have the potential to drive transformational change,” Bhargav stated.

The SBAC group brings deep experience in the brand new financial system sectors and cross-border merger and acquisitions.

“For companies with world aspirations, the US capital market itemizing presents a terrific alternative.

“We barely have 20 firms public listed from India compared to over 200 firms from China. This SPAC provides a first-of-its-kind opportunity to correct this listing disparity,” Antony stated.

(Only the headline and film of this report might have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)

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