<p>New Delhi: Quick commerce company <a href="https://www.deccanherald.com/tags/zepto">Zepto</a> has marked a milestone with the completion of its reverse flip from Singapore to India ahead of its proposed IPO.</p>.<p>The move of bringing the domicile of Zepto's parent to India assumes significance as the company looks to raise money through IPO. </p><p>Zepto CFO Ramesh Bafna took to X to announce the completion of the reverse merger, bringing the domicile of its parent Kiranakart Pte Ltd to India, and said this would serve as a "good #GharWapasi template for the startup ecosystem and overtime enable a great pipeline towards capital markets".</p>.Quick commerce set for both evolution & tight competition in 2025: Zepto CEO.<p>"Historic scenes on completion of #IndiaFirst reverse merger from Singapore to India in the #FastestEver timeline," Bafna wrote in his post.</p>.<p>The exercise underlines understanding of technicals, working with the right partners, getting into nuts and bolts on execution, and unblocking natural causes of delay and tactical calls in real-time by an empowered team.</p>.<p>Bafna lauded the entire team behind the exercise and praised co-founder and CEO Aadit Palicha for prioritising clarity and team empowerment.</p>.<p>"...This is good hashtag#GharWapasi template for the startup ecosystem and overtime enables a great pipeline towards capital markets," the CFO said.</p>.<p>Earlier, the National Company Law Tribunal (NCLT) approved the merger of Singapore-based Kiranakart Pte Ltd with Kiranakart Technologies Ltd, thus bringing the domicile of Zepto's holding company to India.</p>.<p>The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, a more than two-fold increase from Rs 2,025 crore in the previous fiscal year.</p>.<p>Zepto has marginally reduced losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 2022-23, according to data shared by Tofler.</p>
<p>New Delhi: Quick commerce company <a href="https://www.deccanherald.com/tags/zepto">Zepto</a> has marked a milestone with the completion of its reverse flip from Singapore to India ahead of its proposed IPO.</p>.<p>The move of bringing the domicile of Zepto's parent to India assumes significance as the company looks to raise money through IPO. </p><p>Zepto CFO Ramesh Bafna took to X to announce the completion of the reverse merger, bringing the domicile of its parent Kiranakart Pte Ltd to India, and said this would serve as a "good #GharWapasi template for the startup ecosystem and overtime enable a great pipeline towards capital markets".</p>.Quick commerce set for both evolution & tight competition in 2025: Zepto CEO.<p>"Historic scenes on completion of #IndiaFirst reverse merger from Singapore to India in the #FastestEver timeline," Bafna wrote in his post.</p>.<p>The exercise underlines understanding of technicals, working with the right partners, getting into nuts and bolts on execution, and unblocking natural causes of delay and tactical calls in real-time by an empowered team.</p>.<p>Bafna lauded the entire team behind the exercise and praised co-founder and CEO Aadit Palicha for prioritising clarity and team empowerment.</p>.<p>"...This is good hashtag#GharWapasi template for the startup ecosystem and overtime enables a great pipeline towards capital markets," the CFO said.</p>.<p>Earlier, the National Company Law Tribunal (NCLT) approved the merger of Singapore-based Kiranakart Pte Ltd with Kiranakart Technologies Ltd, thus bringing the domicile of Zepto's holding company to India.</p>.<p>The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, a more than two-fold increase from Rs 2,025 crore in the previous fiscal year.</p>.<p>Zepto has marginally reduced losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 2022-23, according to data shared by Tofler.</p>