SUMMARY
- Zepto is planning to move its headquarters from Singapore back to India.
- Zepto’s parent Kiranakart has submitted an application to the NCLT for the same.
- This move is part of Zepto’s strategy to become predominantly owned by Indian entities within the next 12-18 months.
Aadit Palicha-led Zepto, the fast-growing quick commerce giant, is planning to move its headquarters from Singapore back to its home country, aiming to strengthen its presence in India through investments there. A Zepto spokesperson stated ,”It’s true we are working towards a domicile shift, subject to regulatory processes—beyond that we have no comments to offer.”
News reports suggest that Zepto’s parent Kiranakart has submitted an application to the National Company Law Tribunal (NCLT) to relocate its holding entity to India. This move is part of Zepto’s strategy to become predominantly owned by Indian entities within the next 12-18 months.
This development coincides with Zepto’s pursuit of a new funding round, following its successful fundraising of nearly $1 billion in the past six months. The upcoming round is expected to attract investors from high-net-worth individuals and Indian family offices.
Zepto is among the companies that are considering a reverse flip, moving their base to India due to a favorable market for listings and positive consumer outlook. This trend is seen in the fintech sector, with Groww shifting from the USA to India in May.
Other companies that are in the process include Pine Labs, Razorpay, and Flipkart. The ecommerce sector is also becoming more competitive, with numerous companies seeking out strong listings or institutional placements.
Sriharsha Majety-led Swiggy plans to go public on the domestic exchanges by the end of the year. The company has submitted its IPO documents to SEBI, aiming for an IPO of Rs 3,750 crore with the possibility of increasing the IPO size to Rs 5,000 crore. Additionally, the IPO will include an offer for sale (OFS) of 18.52 crore shares from selling shareholders.
Notably, Zomato is also looking to get Board approval for its qualified institutional relocation. The foodtech giant is expected to announce its second quarter results today.
