Indian inventory buying and selling and mutual fund startup Groww paid $159.4 million in taxes because it shifted its domicile from the U.S. again to India, the corporate stated in an announcement on Monday.
Almost a dozen Indian startups are within the strategy of relocating their headquarters to India from the U.S. and Singapore to raised adjust to Indian legal guidelines and facilitate IPOs within the nation. The shift in domicile creates a tax occasion for each traders and the startup.
Whereas the IPO market stays subdued within the U.S. and lots of developed markets, India has emerged as a hotbed for public choices this yr. The primary 9 months of 2024 noticed virtually 70 IPOs in India, already the second-highest variety of choices in any calendar yr on document.
One key motive for the inflow of startups returning to India is the potential for higher analyst protection, even for firms valued beneath $2 billion. This protection is essential for attracting institutional traders. Tons of of Indian startups — lots of them backed by accelerator Y Combinator — selected to base their headquarters within the U.S. up to now decade.
Add Comment