Groww not only reported a profit and announced its intention to go public with a five-fold year-on-year increase in revenue, but it also revealed on Monday that as part of plans to redomiciled from the U.S. back to India, it has paid $159.4 million (12 billion Indian Rupee) towards taxes between April 2020-21 for FY19-FY20; “This is applicable before we decided a restart our journey from BE45”.
Almost A Dozen Indian Startups Plan To Shift Their HQ From US And Singapore For Better Compliance, IPOS In India If the investor re-domiciles, it creates a tax event for both investors and start-ups.
With the IPO market still suffering in the U.S. and many developed markets, India has been making waves this year with plenty of public offerings coming up.
In the first nine months of 2024, nearly 70 IPOs have been launched in India and it is already the second-highest number of deals offered during any calendar year to date.
If you look at the total coverage that analysts provide, it is a very small number, and companies valued below $2 billion find no mention. Institutional investors need to have this coverage. In the past 10 years hundreds of Indian startups, supported by accelerator Y Combinator opted to register in the U.S. as their headquarters.
