Meesho shifts domicile to India ahead of IPO

New Delhi, Jun 23 (PTI) Softbank-backed e-commerce firm Meesho has shifted its domicile to India as part of its plan for public listing in the country, sources aware of the development said.

Meesho has merged its Delaware-based entity Meesho Inc. with its Indian arm, which has been approved by the National Company Law Tribunal, Bengaluru bench, a regulatory filing showed.

The company filing showed that the transaction pertaining to Meesho Limited is related to a "merger involving a foreign company".

A query sent to Meesho in this regard did not elicit any reply.

The order for the merger of Meesho Inc. with Indian entity Fashnear was passed by the tribunal on May 27.

Meesho changed the name of Fashnear Technologies Private Limited to Meesho Private Limited as per a certificate of incorporation issued by the Ministry of Corporate Affairs on May 13.

"The name change, effective from May 13, 2025, aligns with Meesho's strategic focus on strengthening its brand identity as a leading e-commerce platform in India. The name change reflects Meesho's evolution to a comprehensive online marketplace. The company will now start working on the process for IPO," a source had earlier said without disclosing timelines for the listing.

Companies shifting their domicile to India are required to pay huge taxes to governments.

PhonePe investors, led by Walmart, paid almost Rs 8,000 crore (close to USD 1 billion) in taxes to the Indian government to affect PhonePe's domicile shift to India from Singapore in 2022.

Companies like Groww and Zepto have also moved their headquarters to India.

The country's leading e-commerce firm Flipkart is also in the process of shifting its domicile from Singapore to India ahead of its planned IPO. PTI PRS PRS BAL BAL BAL