ARC Group, a leading firm in SPAC and IPO advisory with a strong focus on Asia, has received an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

The IPA will enable ARC Group to arrange investment deals; and once it receives the subsequent Financial Services Permission from the FSRA, it will be able to extend its services across the region.

"We are confident that the licence, once granted. will bolster our presence in Abu Dhabi, and we are excited to contribute to the growing financial ecosystem within the ADGM," Chittransh Verma, Managing Director of India & MENA at ARC Group, said.

According to the ARC website, the company provides full spectrum of investment banking and advisory services.

(Writing by Seban Scaria; editing by Brinda Darasha)