As Indian startups explore SPACS abroad, SEBI considers framework to promote domestic listings
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India’s securities and market regulator the Securities and Exchanges Board of India (SEBI) plans to build a dedicated framework on Special Purpose Acquisition Companies (SPAC) to allow such ‘non-operational’ entities to also raise funds in initial share sales and list locally, according to reports. Currently, SEBI allows listing of only operational companies with reported financials.