Venture capitalists to launch Special Purpose Acquisition Company (SPAC) to help Indian startups with US listing

VC investors from Elevation Capital and Think Investments would jointly launch the SPAC

Special Purpose Acquisition Companies are alternatives startups consider for overseas listing

SPAC launches an IPO with specific investment criteria and merges/ acquires companies that fit those criteria

This will let startups skip the normal IPO procedures for listing

Startups like Flipkart and Grofers are looking to use this option to get listed in the US