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Quick - commerce startup Zepto has move its domicile to India from Singapore , connect a growing number of Native American startups that havemoved their HQ homeahead of an IPO in the country .
The modulation marks the fastest shift of registered military headquarters to India by a startup in the country , according to Zepto ’s principal financial officer , Ramesh Bafna .
Amerindic authorities recently made it easy for caller to flip their headquarters back home . Some startup , like Pine Labs , have beenin the processfor relatively longer .
Zepto ’s move follows similar relocations by other prominent Amerindic startup , including PhonePe and Groww . Many Indian startups had originally set up concord company overseas so they could get access to foreign working capital more easily .
Several Indian startup record in Singapore to keep assailable the selection of a U.S. itemization , which is not permitted for companies found in India . Flipkart , Eruditus , and Udaan are among those that chose this itinerary .
The Indian IPO market hasemerged as one of the world ’s strongestin the preceding two years , leading many founders to move their prescribed operations to the nation . Swiggy’s$1.35 billion IPOin November was the largest public listing by a tech society globally last twelvemonth .
Zepto , whichraised more than $ 1.35 billion last yearand is currently assess at $ 5 billion , plan to register for an initial public oblation later this year , seek to raise as much as $ 1.1 billion , according to a reference intimate with the party .
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The inauguration , which delivers groceries , wellness products , and household goods within 10 second in urban region , is tight get up to Zomato - own Blinkit , which commands the market .
