Meesho receives NCLT nod for reverse flipping

Bengaluru-based e-commerce firm Meesho has received approval of the National Company Law Tribunal (NCLT) to demerge from the US parent — a step that would allow it to shift its headquarters back to India from Delaware in the USA.

For the reverse flip, the company is likely to face a tax outgo of around $280-300 million in the USA. According to people familiar with the matter, the company is likely to file the papers for its initial public offering (IPO) by the end of this month. However, it is likely to take the confidential route for filing the papers.