Investcorp India Acquisition $258.8 million IPO
Davis Polk advised the underwriter in connection with the initial public offering of 25,875,000 units of Investcorp India Acquisition Corp, for aggregate proceeds of $258.8 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant to purchase one Class A ordinary share of Investcorp India Acquisition Corp. The offering included 3,375,000 units purchased pursuant to the underwriters’ exercise in full of their over-allotment option. The units are expected to be listed on the Nasdaq Global Market under the symbol “ICVAU”.
Investcorp India Acquisition Corp is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The company intends to focus its search for a target located in India in industries that it believes have high potential for growth and generating strong returns for its shareholders.
The Davis Polk corporate team included partners Leo Borchardt and Derek Dostal and associates Maxim Van der moortel and Serdar Inci. The tax team included counsel Alon Gurfinkel. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the London and New York offices.