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Hyderabad Feb. 15 The American Stock Exchange (Amex) has listed the units of Trans-India Acquisition Corporation under the ticker symbol TIL.U.

The offering size is one crore units at $8 per unit for gross proceeds of $80,000,000 (excluding the underwriters' over-allotment option). Each unit consists of one share of common stock and one warrant.

Initially, the units will be the only security trading. The IPO is underwritten by I-Bankers Securities Inc and CRT Capital Group LLC.

APIDC Venture Capital Ltd's Biotechnology Venture Fund here is one of the founders of Trans-India Acquisition Corporation.

It is a recently formed company organised for the purpose of acquiring, through merger, capital stock exchange, asset acquisition or other similar business combination transaction, one or more target businesses with operations primarily in India, according to a press release.

The company intends to focus primarily on targets within the life sciences sector of the Indian economy.

Mr Bobba Venkatadri, Trans-India's CEO, said, "Trans-India Acquisition Corporation is eager to embark on its business plan to identify and conclude a successful acquisition in India. We hope our shareholders and other stakeholders alike view our affiliation with Amex as indicative of our commitment to shareholder services and high standards of corporate governance.''

"As a newly formed company entering an emerging marketplace, we believe Trans-India Acquisition can benefit from the host of services the Amex provides its listed entities,'' said Mr John McGonegal, Senior Vice-President of Amex's Equities Group.

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