Flipkart gets NCLT nod for India domicile shift ahead of IPO

• Flipkart received NCLT approval to shift its holding company domicile from Singapore back to India.
• This move is a crucial step in Flipkart's preparations for a potential domestic initial public offering (IPO).
• The relocation aims to simplify its corporate structure and align with its predominantly domestic operations.
• The process involves a "reverse flip," consolidating multiple Singapore-incorporated entities into Flipkart Internet, its Bengaluru-headquartered operating entity.
• Flipkart's decision follows a trend of Indian startups, including PhonePe, Meesho, Groww, and Razorpay, moving their domiciles back to India.

Why It Matters: Flipkart's India domicile shift is a key step for its potential domestic IPO.