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.

• Bid-Ask Spread: What It Really Means
• ⁠What Is Hedging and Why It Matters
• China’s Exports Fall 1.1% in October as Shipments to US Slide 25%
• Kia India Rolls Out First-of-Its-Kind In-Plant OTA Update System
• NBCC Wins Rs 350 Crore Project from Heavy Vehicles Factory; Shares End 2% Higher

“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.