Rohan Ajila, a private equity veteran, and Gautham Pai, chairman of the Manipal Group, have set up a special purpose vehicle in the US for acquiring consumer companies with a “compelling Asia potential”.
Global Consumer Acquisition Corp (GCAC) raised this week $170 million in an initial public offering. The company is listed on NASDAQ under the symbol “GACQU” and its management has extensive investment and cross-border operator experience, according to its IPO prospectus.
- UK Self-Driving Startup Wayve Raised USD 1.05 Billion From SoftBank Group
- Apple Working on a Project To Develop Chip Running AI Softwares in Data Centres
- GST on Corporate Guarantees Temporily Ceased for Holding Companies in India
- Avantel Limited Shares Gain 2% on Securing Rs 2.29 Crore Order
- India Allowed the Export of Non-Basmati White Rice to Mauritius Through National Cooperative Exports
“We intend to focus on global consumer companies with a significant Asia presence or a compelling Asia potential especially India,” said Ajila, co-chairman and chief executive officer (CEO) of GCAC.
GCAC aims to acquire targets with an enterprise value in the range of $ 500 million and $1 billion, declining to name companies it is in discussions with. “The SPAC aims to get a deal done in the next 12 months,” Ajila said, referring to a special purpose acquisition company.