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India-focused SPAC StoneBridge raises $200-M, lists on NASDAQ

Economic Times  

StoneBridge Acquisition Corp, a special purpose acquisition company (SPAC) focused on acquiring Indian companies, has raised INR 1,400 crore (about USD 200 million) through an initial public offering in the US and got listed on the NASDAQ. The blank cheque company is sponsored by GSS Infotech CEO Bhargav Marepally and Prabhu Antony, co-founder of Sett & Lucas. The SPAC aims to acquire its target in the next 12-16 months and has a special emphasis on Indian new-age tech companies with enterprise valuation of USD 1 billion to 1.5 billion.