Zepto will not need RBI’s no-objection certificate for reverse flip to India

Quick-commerce unicorn Zepto will no longer require a no-objection certificate (NOC) from the Reserve Bank of India (RBI) to merge its Indian and Singapore entities, according to a recent ruling. This is a crucial step for its IPO planned later this year.

On January 9, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the cross-border merger of Mumbai-based Kiranakart Technologies, which operates Zepto in India, with its Singapore-based affiliate, Kiranakart.