A naukri.com initiative
Economic Times
1M
328
Image Credit: Economic Times
Reverse flipping by Indian startups gathers steam: Here’s all you need to know
- Several Indian startups and companies are redomiciling to India from overseas driven by better listing prospects and regulatory ease.
- Meesho, Flipkart, Dream Sports, Zepto, Groww, Pine Labs, Razorpay, and PhonePe are among the prominent companies engaged in 'reverse flipping'.
- Meesho is in the process of redomiciling from the US to India ahead of its IPO.
- Flipkart has approved a plan to shift its domicile from Singapore to India with a target of public listing by 2026.
- Dream Sports completed its reverse merger from Delaware, US, to India, marking the shift of its parent company.
- Zepto completed its reverse merger from Singapore to India in preparation for its IPO announcement.
- Groww moved its domicile back to India from the US, resulting in a net loss for the financial year ending March 31, 2024.
- Pine Labs received NCLT's approval to merge its Singapore entity with its India entity, effectively returning its headquarters to India.
- Razorpay and PhonePe are also in the process of moving their parent entities back to India from the US and Singapore, respectively.
Read Full Article
19 Likes
For uninterrupted reading, download the app