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BRND.ME shifts domicile to India from Singapore

EntrackrEntrackr · 14d ago
BRND.ME shifts domicile to India from Singapore
Medial

BRND.ME (formerly Mensa Brands) has completed a cross-border composite merger, shifting its domicile from Singapore to India within 10 months. The transaction involved the merger of Mensa Singapore with the Indian holding company, followed by the consolidation of seven Indian group entities into the same entity. The scheme received approval from the High Court of Singapore and was sanctioned by the National Company Law Tribunal (NCLT), Chandigarh Bench, on February 20, 2026. According to the company, the restructuring was executed as a composite transaction, with offshore and onshore mergers carried out simultaneously. BRND.ME is evaluating an initial public offering over the next 12 to 18 months. The company reported revenue of around Rs 1,500 crore in FY25 and is targeting an FY26 exit revenue run rate of Rs 1,700–1,800 crore. It has achieved adjusted EBITDA profitability and turned operating cash-flow positive in FY26. Its portfolio includes brands such as MyFitness and other wellness and lifestyle labels operating across India, the US, Canada, the Middle East and Europe. The company currently operates in over 16 international markets and is evaluating further expansion into Southeast Asia. In the past few years, several companies have shifted their domicile to India. The list includes PhonePe, Zepto, Dream11, Decentro, and Groww.

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Flipkart board approves domicile shift from Singapore to India

EntrackrEntrackr · 10m ago
Flipkart board approves domicile shift from Singapore to India
Medial

Flipkart board approves domicile shift from Singapore to India Walmart-owned e-commerce major Flipkart will join dozens of other companies that have either completed or are in the process of moving their base to India. E-commerce marketplace Flipkart has reportedly received approval from its board to shift the company's domicile from Singapore to India. The Walmart-owned firm will join dozens of other companies that have either completed or are in the process of moving their base to India. According to an ET report, Flipkart’s board approved the plan to shift its domicile back to India during a meeting held last week in Singapore. While Flipkart did not comment on approval from the board, it has shared its intention to relocate its holding company from Singapore to India. “This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India’s strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey. This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” said a Flipkart spokesperson. “As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation’s growing digital economy and entrepreneurship,” the spokesperson added. Meanwhile, the board of Flipkart Internet (India) has approved a resolution to capitalise its securities premium of up to Rs 26,552 crore for the issuance of bonus shares to Flipkart (Singapore), Flipkart (Marketplace), and Quickroutes International, according to a regulatory filing accessed from the Registrar of Companies (RoC). Flipkart has been working on shifting its holding company back to India since May 2023. Its IPO is expected by late 2025 or early 2026. The company was last valued at $33 billion after raising $600 million from existing investors in December 2023. Earlier, in July 2021, it raised $3.6 billion led by SoftBank at a $37.6 billion valuation. The valuation was later revised to $33 billion after it separated from PhonePe. So far, PhonePe, Zepto, Dream11, and Groww have completed their reverse flip to India. Meanwhile, several other companies — including Meesho, Razorpay, Pine Labs, Eruditus, Livspace, Mensa, and KreditBee — are awaiting final approvals to shift their base.

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