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Global SPAC Frenzy Spurs India to Allow Some Exchange Listings

March 10, 2021, 8:12 PM

The India government is considering allowing some offshore blank-check companies for the first time to be listed on its exchanges.

The International Financial Services Centres Authority (IFSCA) proposed a regulatory framework on Wednesday that would enable SPACs, or special purpose acquisition companies, to acquire Indian companies in GIFT City—a financial zone. Public comments on the proposal are due March 31.

  • The IFSCA is an administrative body that oversees India’s GIFT City, India’s first international financial services center. GIFT City offers place-based tax benefits and incentives to attract investment across certain sectors.
  • India currently doesn’t ...