Singapore-based NRI media entrepreneurs list $100 million SPAC IPO on Nasdaq

Vistas Media Acquisition Company (VMAC) on Friday commenced trading of its $100 million initial public offering (IPO) on Nasdaq. The offering consists of 10,000,000 units at a price to the public of $10 per unit.

VMAC led by CEO F. Jacob Cherian and Singapore NRI media entrepreneurs and co-founders Saurabh Gupta and Abhayanand Singh is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities in the Global Media and Entertainment sector.

The company’s key businesses include content production and distribution across films -- from Hollywood to Bollywood and Series, live entertainment events and digital media marketing.

Started in 2018, Vistas Media Capital, the parent of the sponsor entity of VMAC is a fully integrated content media and entertainment investment holding company. VMC’s India partner Piiyush Singh is responsible for developing, acquiring, managing and executing all production and distribution projects for VMC, across Bollywood and regional content in India. Golden Ratio Films, a fully owned subsidiary of Vistas Media Capital, has been very active in the Indian content space with their released and upcoming slate in Hindi, Marathi and Tamil films and series.