Meesho gets NCLT nod to relocate base to India

In a crucial step towards its planned Initial Public Offering (IPO), e-commerce unicorn Meesho has received approval from the National Company Law Tribunal (NCLT) to relocate its parent company from the United States to India. This process, known as "reverse flipping," involves changing the company's domicile to India. This move is strategically important as Indian regulations are more favorable for domestically domiciled companies seeking to list on Indian stock exchanges. The NCLT's approval clears a major legal and regulatory hurdle for Meesho. By becoming an Indian-domiciled entity, the company can now proceed with its plans to file its DRHP with SEBI and launch its IPO, which is expected to be one of the most significant public market debuts for an Indian e-commerce player. The move also aligns the company's corporate structure with its primary market of operation.