Meesho gets NCLT approval for its reverse flip from US

E-commerce firm Meesho has received the green light from the National Company Law Tribunal (NCLT) for its "reverse flip" from the US to India. This approval is a critical milestone in the company's journey towards an Initial Public Offering (IPO). The reverse flip involves changing the company's domicile, making the Indian entity the new parent company of the group. This restructuring is essential for listing on Indian stock exchanges, as regulations are more favorable for domestically domiciled companies. By securing the NCLT's approval, Meesho has cleared a major legal and regulatory hurdle. The company can now proceed with its plan to file its draft IPO papers with the market regulator, SEBI. This move also aligns Meesho's corporate structure with its core market of operation, as it prepares for a much-anticipated debut on the Indian public markets.