Think Elevation Capital Growth Opportunities, a blank check company backed by Think Investments and Elevation Capital targeting tech in India, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The San Francisco, CA-based company plans to raise $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Think Elevation Capital Growth Opportunities will command a market value of $281 million.
The company is led by Co-CEO and Director Ravi Adusumalli, who founded Elevation Capital in 2002 and serves as Managing Partner, and Co-CEO and Director Shashin Shah, who has been a Portfolio Manager and Managing Partner at Think Investments since 2013. Think Elevation Capital Growth Opportunities' primary focus will be on the Indian technology ecosystem.
Think Elevation Capital Growth Opportunities was founded in 2021 and plans to list on the Nasdaq under the symbol TEGAU. Morgan Stanley is the sole bookrunner on the deal.
