24 December 2024
Fintech unicorn Razorpay has begun relocating its headquarters from the U.S. to India, amidst a growing trend of startups shifting their domicile back to the country. This transition aligns with the government's accelerated efforts to facilitate reverse flipping for Indian companies currently based overseas. The move also paves the way for Razorpay to go public by 2026.
Despite significant tax implications, which industry observers estimate could amount to $300 million, Razorpay has initiated the process of reversing its corporate structure. "There's no challenge... it just takes time. The process is straightforward. We filed it through the fast checkout route. The National Company Law Tribunal process takes a while because the benches have a lot of cases to handle. The rules came out six months ago. In an interview with TOI, we are testing the waters, but this is expected to be faster," said co-founder and CEO Harshil Mathur.
Fintech unicorn Razorpay has begun relocating its headquarters from the U.S. to India, amidst a growing trend of startups shifting their domicile back to the country. This transition aligns with the government's accelerated efforts to facilitate reverse flipping for Indian companies currently based overseas. The move also paves the way for Razorpay to go public by 2026.
Despite significant tax implications, which industry observers estimate could amount to $300 million, Razorpay has initiated the process of reversing its corporate structure. "There's no challenge... it just takes time. The process is straightforward. We filed it through the fast checkout route. The National Company Law Tribunal process takes a while because the benches have a lot of cases to handle. The rules came out six months ago. In an interview with TOI, we are testing the waters, but this is expected to be faster," said co-founder and CEO Harshil Mathur.
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