Think Elevation Capital Growth Opportunities, a blank check company backed by Think Investments and Elevation Capital targeting tech in India, withdrew its plans for an initial public offering on Wednesday. It had filed in March 2021 to raise $225 million by offering 22.5 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant.
The company was set to be led by Co-CEO and Director Ravi Adusumalli, founder and Managing Partner of Elevation Capital, and Co-CEO and Director Shashin Shah, founder and Managing Partner of Think Investments.
The San Francisco, CA-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol TEGAU. Morgan Stanley was set to be the sole bookrunner on the deal.
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