Meesho concludes reverse flip process; likely to file DRHP in 2–3 weeks

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Ecommerce marketplace Meesho has concluded its reverse flip process and moved its domicile to India, said people in the know. Documents filed with the Registrar of Companies and seen by ET confirm the development.

“Meesho’s board met late on Sunday…and has approved the merger and share allotment to investors of the US entity. It is now a fully Indian company,” one of the persons said, adding that the company is expected to file the draft prospectus for its upcoming initial public offering in the coming two to three weeks.

The SoftBank-backed company…



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Meesho concludes reverse flip process; likely to file DRHP in 2–3 weeks


Ecommerce marketplace Meesho has concluded its reverse flip process and moved its domicile to India, said people in the know. Documents filed with the Registrar of Companies and seen by ET confirm the development.

“Meesho’s board met late on Sunday…and has approved the merger and share allotment to investors of the US entity. It is now a fully Indian company,” one of the persons said, adding that the company is expected to file the draft prospectus for its upcoming initial public offering in the coming two to three weeks.

The SoftBank-backed company…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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