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SPAC me the money!

Special Purpose Acquisition Companies, or SPACs are all the rage in Wall Street of late. They are an alternative to traditional IPOs if the intent is to take the company public.

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The process is quite reverse, actually. In an IPO, a company with a defined prospectus is looking to raise funds from the market. A SPAC, on the other hand, is a company with money on its hands, looking for new business collaborations (mergers/acquisitions) to focus on.

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Recently, India's Number #1 renewable energy company, ReNew Power, opted for a SPAC-IPO to go public on the NASDAQ Exchange. As more and more companies take the SPAC route, it becomes clear that investment is no longer a goal-oriented idea but a gain-oriented idea.

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Read 4 tweets
#Coreportfoiliopick
#BorosilRenewables
Borosil Renewables (CMP - 92)
Disc : Invested with avg price -78. #renewablenergy #greenenergy
Borosil Renewables Limited is the only solar glass manufacturer in India. Company is promoted by Mr. Pradeep Kheruka. Management is one of the finest and conservative.
Company is into manufacturing of solar glass required in the manufacturing of solar module. Solar Modules are created by companies like Adani Green, Tata Power etc. Company has big clients and no client is responsible for more than 5% sales. So we'll diversified with least risk.
Read 12 tweets

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