Meesho to shell out $288 million in tax for re-domiciliation
Meesho just got the go-ahead from India's NCLT to shift its base from the US back to India, paying $288 million in taxes along the way.
This clears the path for Meesho's much-anticipated IPO, where it hopes to raise up to $1 billion and reach a $10 billion valuation.
Meesho joins Zepto, Razorpay in coming home for IPO
Founded in 2015, Meesho runs a social commerce platform that helps value-focused shoppers—especially in smaller Indian cities—find affordable products.
The company has made online shopping accessible beyond big metros and is now joining other startups like Zepto and Razorpay in coming home for their public debut.
PhonePe, Pine Labs also moving back to India
Meesho isn't alone: PhonePe and Pine Labs are also moving their headquarters back to India.
Shifting home helps these companies meet local rules and tap into India's growing public markets as they get ready for IPOs.