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Dream Sports Looks At A Possible US Listing By Early Next Year; Eyes Raising $1.5 Billion Via SPAC
Dream11 CEO and Co-Founder Harsh Jain. (Website/Dream11)
Indian startup Dream Sports is looking to list on the bourses in the United States (US) by early next year in a bid to possibly raise $1.5 billion at a valuation of a whopping $6 billion, reports Economic Times.
The $6 billion valuation would mark a 40 per cent surge in the company's valuation from the latest fundraising of $400 million that the company executed just last month at a valuation of $3.6 billion.
The company is presently engaged in exploratory talks with investment banks to facilitate the US listing plans. The investment banks which are said to have made presentations to the company as of the first week of April include Morgan Stanley, JP Morgan and Citigroup.
There is also a likelihood that the company may go on to list in the US via a special purpose acquisition vehicle (SPAC). The company's co-founder Harsh Jain is a board member of Think Elevation Capital Growth Opportunities which is a SPAC focussed on Indian technology companies.
However, it should also be noted that last month Jain had said in an interview with Economic Times that the company had no plans for an IPO.
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