After Grofers, Flipkart To Explore SPAC Route For Public Listing In US
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India, March 5 -- Walmart-owned ecommerce major Flipkart is reportedly exploring a public listing in the US, via a special purpose acquisition company (SPAC), also called a blank-check firm. Although, the company may decide to go with a traditional initial public offering (IPO).
According to ET, which first reported the development, the talks for a deal with a blank-check firm are at a very early stage and could fall apart as no plans have been finalised yet.
Several Indian tech startups are exploring the SPAC route for a public listing, as it involves less regulatory scrutiny, along with more certainty over the valuation and funds that will be raised.
A SPAC is a development stage company with a business plan centred around a merger o...
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