According to media reports, quick commerce giant Zepto has obtained approval from Singapore to move its holding entity to India. This development comes as the company prepares for an initial public offering (IPO) in the Indian stock market, marking a key milestone in its journey toward listing.
The National Company Law Tribunal (NCLT) is scheduled to review Zepto’s ‘reverse merger’ application on January 17, a crucial step in transitioning its domicile from Singapore to India, as per media reports.
Zepto recently concluded a USD 350 million funding round, adding to the $1 billion it has raised in the past few months. These funds bolster its ability to compete with rivals Blinkit and Swiggy Instamart as the quick commerce space intensifies.
The company is also reportedly finalising independent directors as part of the IPO process, indicating its readiness to meet regulatory requirements for public listing.
Zepto has established a new entity, Zepto Marketplace on October 22, 2024. This move is speculated to reflect a shift from its existing business-to-business-to-consumer model to a marketplace approach, potentially reshaping its operating structure ahead of its IPO.
