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Reliance Entertainment CEO Shibasish Sarkar Launches Buyout Company

Shibasish Sarkar, current CEO of Reliance Entertainment, is spearheading the launch of the first special purpose acquisition company targeting the Indian media industry.Sarkar is set as chairman, CEO and leading shareholder of International Media Acquisition Corp., a New Jersey-registered company .

It aims to raise $200 million-$230 million through an IPO on the NASDAQ exchange within the next 12-18 months.In recent months SPACs, often described as ‘blank check companies’ have become wildly popular vehicles for raising speculative finance and allowing privately-owned companies and start-ups to obtain share listings.

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