The reports note that the company is likely to file the draft prospectus for its upcoming initial public offering in the next two to three weeks.
As part of its plan for public listing, Softbank-backed ecommerce firm Meesho has completed its reverse flip and moved its domicile to India, as per the reports, which cited the documents filed with the Registrar of Companies.
The reports noted that the company’s board approved the merger and share allotment to investors of the United States entity. This development means that it is now a fully Indian company. The reports further stated that the company is likely to file the draft prospectus for its upcoming initial public offering in the next two to three weeks.
On 27 May, the company received approval from the National Company Law Tribunal (NCLT) to go ahead with the reverse flip. The reports added that the company is likely to pay around USD 280 to 300 million tax in the US for its flipback.
The reports emphasised that the company has roped in Kotak Mahindra Capital, Citi, JP Morgan and Morgan Stanley as merchant bankers for its public issue. On the other hand, the reports noted that Flipkart is also looking at redomiciling to India from Singapore ahead of a planned IPO next year.
In an earlier development, the company has received board and shareholder approval to change its legal name from Fashnear Technologies to Meesho, according to a regulatory filing with the Registrar of Companies.
The company said the name change reflects its strategic intent to align its corporate identity with the consumer-facing Meesho brand, which has built strong recognition, market leadership, and customer trust in India’s digital commerce space.
