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Amazon India’s e-comm and logistics arms set for merger

EntrackrEntrackr · 9m ago
Amazon India’s e-comm and logistics arms set for merger
Medial

Amazon Seller Services will be the transferee, while Amazon Transport Services will be the transferor. The firm will also determine the share exchange ratio between the two firms, as assessed by PwC, the appointed registered valuer. New Update Amazon Seller Services and Amazon Transport Service are set to merge, according to two sources familiar with the matter, as reported by Entrackr. The e-commerce division has scheduled a meeting with its unsecured creditors on April 14. Amazon Seller Services was launched in India in 2013 as part of Amazon's expansion into the country’s e-commerce market. It operates as the marketplace arm of Amazon India, enabling third-party sellers to list and sell their products on Amazon.in. On the other hand, Amazon Transport Services (ATS) was launched in 2015 in India as Amazon’s logistics arm. It focuses on transportation, delivery, and supply chain management to support Amazon’s e-comm operations. Until now, both entities have operated independently to support Amazon's e-commerce operations in India. Amazon Corporate Holdings Pvt. Ltd. serves as their immediate parent company, while Amazon.com, Inc. (USA) remains the ultimate holding company. Amazon did not respond to queries sent on March 11 until the story was published. Last week, Amazon decided to shut down its refurbished platform Renewed for external sellers, citing increasing challenges. Entrackr was the first to report the development.

Meesho gets NCLT nod to relocate base to India

EntrackrEntrackr · 6m ago
Meesho gets NCLT nod to relocate base to India
Medial

Meesho gets NCLT nod to relocate base to India The National Company Law Tribunal (NCLT) has approved Meesho’s move to shift its headquarters back to India from Delaware in the US, taking it a step closer to its initial public offering (IPO). This allows Meesho to separate from its US entity and merge back with its Indian company, completing its move back to India. A Moneycontrol report also added that Meesho is likely to pay $288 million in taxes for the reverse flip. Confirming the development to Entrackr, a Meesho spokesperson said, “This filing is part of our ongoing transition to re-domicile in India. With the majority of our operations, including customers, sellers, creators and Valmo partners already based here, this step aligns our corporate structure with our day-to-day business footprint.” However, the spokesperson did not comment on the tax amount paid by the company. Media reports suggest that Meesho has also shortlisted Morgan Stanley, Kotak Mahindra Capital, JP Morgan, and Citi as its bankers and is likely to launch its IPO by the end of this year. Last week, the homegrown e-commerce platform also transitioned into a public entity from a private one ahead of its $1 billion IPO. Meesho adds to the growing number of Indian startups such as Razorpay, PhonePe, Groww, Pine Labs, and Zepto that have paid hefty taxes to relocate their base back home after originally being incorporated overseas. While Zepto and Dream11 did not disclose the amount of tax paid for the reverse flip, Razorpay paid $150 million, PhonePe and Groww paid Rs 8,000 crore ($1 billion then) and Rs 1,340 crore ($157 million) in taxes, respectively, to complete the process. Meesho’s rival Flipkart, with an estimated valuation of $36 billion, is also working on relocating its domicile from Singapore to India.

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