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‘Ghar-wapsi of Indian companies’: Zerodha’s Nithin Kamath lauds govt move to fast-track start-ups’ ’reverse flipping’ | Mint

Livemint

Livemint · 10m ago

‘Ghar-wapsi of Indian companies’: Zerodha’s Nithin Kamath lauds govt move to fast-track start-ups’ ’reverse flipping’ | Mint

Zerodha co-founder Nithin Kamath praised the Indian government's decision to simplify the approval process for merging an overseas-incorporated company, particularly a startup, with its wholly-owned Indian subsidiary. The move eliminates the need for clearance from the National Company Law Tribunal, which has been delaying such mergers. The updated regulations aim to facilitate "reverse flipping," where startups return to India to take advantage of regulatory and investment opportunities. Kamath highlighted the growing Indian stock market, increased household investments, and the need for more Indian businesses to be located in India.

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Iron out ‘reverse flipping’ kinks: Startups tell govt

Economic Times

Economic Times · 3m ago

Iron out ‘reverse flipping’ kinks: Startups tell govt

The Indian government is working to simplify the 'reverse flipping' process, which allows startups domiciled overseas to relocate to India. However, startups are urging further reforms to remove procedural hurdles, particularly around complex shareholding structures and foreign investment regulations. Successful examples include Dream Sports and Pine Labs relocating operations to India. The Ministry of Corporate Affairs plans to expand the fast-track merger scope to aid more startups, while companies like Razorpay and Meesho are undergoing the process.

Govt fast-tracks approval process for overseas-headquartered startups' mergers into Indian arms

Economic Times

Economic Times · 10m ago

Govt fast-tracks approval process for overseas-headquartered startups' mergers into Indian arms

To boost reverse flipping, India has announced a fast-track approval process for merging a foreign-incorporated startup with its Indian arm. The National Company Law Tribunal (NCLT) clearance requirement will be eliminated, and instead, Reserve Bank of India (RBI) approval will be necessary along with government approval. This change, effective from September 17, will benefit startups founded by Indians overseas who want to return to India and take advantage of the country's growth opportunities. The move aims to simplify the regulatory process and tap into India's favorable capital markets and government support.

Zerodha’s Nithin Kamath warns app are misusing user data without consent

Economic Times

Economic Times · 3m ago

Zerodha’s Nithin Kamath warns app are misusing user data without consent

Zerodha CEO Nithin Kamath expressed concerns about mobile apps misusing user data without consent, citing issues like spam notifications and design tricks. He highlighted that many apps track extensive user data, often without knowledge, for targeted advertising, resulting in detailed user profiles for more profitable ads. These practices raise concerns amid India’s move towards stricter data protection laws, which may require companies to delete unnecessary user data after three years.

Budget 2024: Zerodha’s Nithin Kamath seeks tax exemptions for startup investors

Economic Times

Economic Times · 1y ago

Budget 2024: Zerodha’s Nithin Kamath seeks tax exemptions for startup investors

Zerodha CEO Nithin Kamath has urged the Indian government to provide tax exemptions for investments in startups, as a way to tackle unemployment. Kamath believes that encouraging entrepreneurship is crucial for addressing structural unemployment in the country. He specifically called for including investments in startups within the existing tax exemption under Section 54F of the Income Tax Act. Kamath acknowledged potential risks but emphasized the significant positive impact it could have. The Department for Promotion of Industry and Internal Trade (DPIIT) has previously recommended removing the angel tax on startups to boost funding.

Zerodha’s Nithin Kamath Warns Against Stopping SIPs Amid Market Fall

OutlookIndia

OutlookIndia · 4m ago

Zerodha’s Nithin Kamath Warns Against Stopping SIPs Amid Market Fall

Zerodha co-founder Nithin Kamath cautions investors against halting SIPs amid market downturns, emphasizing market cyclicity and the inevitability of corrections following the post-pandemic surge. He urges investors to persevere, highlighting the benefits of consistent investing for averaging across market cycles. Kamath advises against panic-induced sales and warns about leveraging investments, noting that disciplined, diversified, and regular investments enhance long-term success chances. He stresses on not being swayed by short-term market fluctuations.

'Work from home failed for us in most critical areas,' says Zerodha’s Nithin Kamath

Inshorts · 1y ago

'Work from home failed for us in most critical areas,' says Zerodha’s Nithin Kamath

Zerodha CEO Nithin Kamath said that the work from home model didn't work for some of his employees. Kamath said the model failed for the organisation in the most critical areas. "It worked out great in first year, started losing its sheen in the second year and became detrimental to creativity...by the third year," Zerodha's CTO Kailash Nadh wrote.

BT Exclusive: At least 90% of India’s foreign domiciled unicorns will flip back to India, says Siddarth Pai

Business Today

Business Today · 9m ago

BT Exclusive: At least 90% of India’s foreign domiciled unicorns will flip back to India, says Siddarth Pai

- Reverse flipping is a growing trend in the Indian start-up landscape, with companies like PhonePe and Groww successfully completing the transition. - Reverse flipping involves relocating assets, operations, and intellectual property rights from foreign bases back to India. - The dislocation between headquarters and operations has been a concern for Indian start-ups, and a simplified structure in India can result in less friction with authorities and ease of management. - Investor sentiment, both local and global, towards Indian start-ups is improving, and the shift back to India is driven by the higher value creation in the Indian market and the inability of the Indian public to participate in IPOs of overseas entities. - The Indian government's policies and infrastructure need improvements, such as a tax-free redomicile process, greater flexibility in issuing instruments, easier M&A norms, and a stronger corporate law system with dedicated courts. - It is expected that a significant number of foreign-domiciled unicorns and funded start-ups will flip back to India, with non-funded start-ups also likely to join the trend.

Moglix Has Desh Wapsi On The Cards As It Eyes 2027 Public Listing

Inc42 · 1y ago

Moglix Has Desh Wapsi On The Cards As It Eyes 2027 Public Listing

B2B ecommerce platform Moglix is planning to relocate its base to India as it aims to make a public market debut within the next two years. The move follows a trend among Indian startups looking to tap into the domestic capital markets and benefit from the ease of doing business in India. However, there are significant tax implications associated with the reverse flipping process. Moglix's CEO, Rahul Garg, highlighted the company's strong brand presence in India as a favorable factor for its listing there. The company reported an operating revenue of INR 4,664.7 Cr in FY23, with losses reaching INR 193 Cr.

Trading volumes down 30% across stock brokers; Zerodha’s clocked negative growth: Nithin Kamath

Economic Times

Economic Times · 4m ago

Trading volumes down 30% across stock brokers; Zerodha’s clocked negative growth: Nithin Kamath

Trading volumes have decreased by 30% across stock brokers, marking the first time Zerodha has experienced such degrowth since its inception 15 years ago, according to CEO Nithin Kamath. He noted that the industry is facing challenges due to market slowdown and the 'True to Label' circular issued by Sebi, impacting brokers' revenues. Kamath warned that persistent declines in trading could significantly reduce the government's revenue from the securities transaction tax (STT).

View investment in senior care ventures as long-term, says Zerodha’s Nithin Kamath

Economic Times

Economic Times · 7m ago

View investment in senior care ventures as long-term, says Zerodha’s Nithin Kamath

Zerodha CEO, Nithin Kamath, highlighted the importance of long-term thinking in senior care ventures, emphasizing that entrepreneurs should focus on steady growth rather than rapid scaling. Kamath stressed the need to bring attention to and remove social stigma around senior care. He also discussed the growing opportunity in India's senior living sector, as life expectancy is projected to rise. Kamath shared a personal experience of seeing the decline in his father's health and expressed the benefits of a senior living setup. The senior living housing sector in India is projected to grow significantly by 2030.

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