Zepto Secures NCLT Approval for Merger with Kiranakart, Completing Flip to India in 30 Days Ahead of IPO

Jan 13, 2025, 04:54 AM

Zepto has received approval from the National Company Law Tribunal (NCLT) to merge its Singapore parent company with its Mumbai-based subsidiary, Kiranakart. This decision facilitates the company's transition back to India, a move aimed at addressing regulatory challenges and enhancing shareholder value. The merger is expected to be completed within the next 30 days, as Zepto prepares for a potential initial public offering (IPO) in India later this year. The NCLT's ruling indicates that the flip will not require approval from the Reserve Bank of India (RBI).