Capital market regulator Sebi has formed a group of experts to examine the feasibility of introducing Special Purpose Acquisition Companies (SPACs) like structures in India. The group, formed under Sebi’s Primary Market Advisory Committee (PMAC), has been asked to submit its report at the earliest.
SPACs are formed to raise capital in an initial public offering (IPO) with the purpose of using the proceeds to identify and merge with a target company. SPACs are popular in the US. They are usually formed by private equity funds or financial institutions, with expertise in a particular industry or business sector, with investment for initial working capital and issue related expenses.
read more at : China yet to approve the WHO list of experts for a probe into origins of coronavirus
read more at : How to present your answer in exam