Zepto Secures Singapore Approval for Domicile Transfer, Aims for Indian IPO

Technology

1 year ago

News sources:

Credited from: INDIATIMES

Zepto, a quick commerce company, is expediting its plans for an initial public offering (IPO) after gaining approval from Singapore for a domicile transfer to India.
A crucial hearing on January 17 will discuss its reverse merger application essential for the domicile shift.
The upcoming board meeting on January 19 aims to finalize details about the IPO size and appoint necessary bankers.
CEO Aadit Palicha emphasized the company's intent to establish trust by focusing on domestic ownership amidst increased scrutiny of foreign firms.
The company aspires to raise at least $450 million in the IPO, with investments from major banks like Morgan Stanley and Goldman Sachs.