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Meesho IPO: SoftBank-backed firm moves domicile to India to list on bourses

Upstox
By Upstox News Desk

2 min read | Updated on June 24, 2025, 08:48 IST

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SUMMARY

Meesho has merged its Delaware-based unit, Meesho Inc., with its Indian entity. This move has received approval from the National Company Law Tribunal (NCLT), Bengaluru bench, a regulatory filing showed.

Shifting domicile to India requires a huge tax payment to the government. | Image: LinkedIn/Vidit Aatrey

Shifting domicile to India requires a huge tax payment to the government. | Image: LinkedIn/Vidit Aatrey

Meesho IPO: Leading e-commerce marketplace Meesho, which is backed by SoftBank, has redomiciled to India as part of its plan to list on the Indian bourses, news agency PTI reported, citing sources.
The company has merged its Delaware-based unit, Meesho Inc., with its Indian entity. This move has received an approval from the National Company Law Tribunal (NCLT), Bengaluru bench, a regulatory filing showed, as per PTI.

The filing was in regard to a "merger involving a foreign company".

NCLT had passed an order for the merger of Meesho Inc. with Fashnear on May 27.

Meesho changed the name of Fashnear Technologies Pvt Ltd to Meesho Pvt Ltd according to the certificate of incorporation issued by the Ministry of Corporate Affairs (MCA) 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 told PTI.

Shifting domicile to India requires a huge tax payment to the government.

Walmart-backed PhonePe had paid around ₹8,000 crore in taxes to the Indian government to shift domicile from Singapore to India in 2022. The digital payments major is expected to file its draft red herring prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (SEBI), as soon as August 2025. The company is expected to seek up to $1.5 billion via the initial public offering.

PhonePe has roped in JPMorgan Chase, Kotak Mahindra Capital, Citigroup and Morgan Stanley as the merchant bankers for the public issue.

Zepto has also moved its headquarters to India and is expected to tap Dalal Street in the calendar year 2026.

Flipkart, which is among leading e-commerce firms in the country, is also in the process of shifting its domicile to India from Singapore ahead of its planned initial share sale.

To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page.
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