Pine Labs gets nod to move base to India

Many other Indian-origin startups and businesses domiciled overseas, including Flipkart, Udaan and Meesho, are mulling similar ‘reverse flipping’.

Pine Labs has received approval from a Singapore court to merge its entity there with the one in India, paving the way for the fintech major to move its domicile to India.

According to the court filing, seen by TechCrunch, the transfer will help the company “achieve business synergies and more economies of scale,” helping it “achieve cost savings” and “simplification of the shareholding structure”.

It was not clear how much of a tax bill the Peak XV Partners-backed entity would have to incur because of this move. Generally, when operations are merged or holding migrated, there is a …


Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

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