NCLT Approves Meesho’s Reverse Flip To India

Amid its IPO preparations, ecommerce major Meesho has received approval from the National Company Law Tribunal (NCLT) to shift its headquarters back to India from the US. 

As per the regulatory filings seen by Inc42, the NCLT Bengaluru Bench issued clearance to the ecommerce major in an order dated May 27th, 2025.

“In view of the above discussion, we conclude that the objections/observations to the scheme received from ROC/RD & Income Tax Department have been adequately explained by the petitioner companies (Meesho) and hence there is no impediment in approval of the scheme,” the filing added.

The development was first reported by Moneycontrol.

“This filing is part of our ongoing transition to re-domicile in India. With the majority of our operations, including customers, sellers, creators and Valmo partners already based here, this step aligns our corporate structure with our day-to-day business footprint,” said Meesho’s spokesperson. 

As a part of this redomiciling process, Meesho is liable to pay $288 Mn (around INR 2,480 Cr) in taxes to shift its headquarters from the US, Moneycontrol reported citing sources close to the matter.

The NCLT approval comes on the back of Meesho’s board approving its conversion into a public entity  amid IPO preparations in India, changing its name from ‘Meesho Private Limited’ to ‘Meesho Limited’.

Notably, Meesho will likely file its Draft Red Herring Prospectus (DRHP) in a few weeks.

Meesho, which is planning to raise $1 Bn through its public listing, also onboarded bankers including Morgan Stanley, Kotak Mahindra Capital and Citi to helm its IPO.

Meesho’s IPO Saga

As per the regulatory filing, Meesho filed a petition to redomicile back to India from the US on August 13, 2024.

Since then, the company has taken several steps to hit the bourses in India in the ongoing financial year.

Earlier this year, the company closed a $250-270 Mn funding round with new investors joining the captable, including Tiger Global, Think Investments and Mars Growth Capital. Prior to this, Meesho also raised $275 Mn funding in May last year.

Before converting into a public entity, Meesho changed the name of its parent company to ‘Meesho Private Limited’ from ‘Fashnear Technologies Private Limited’. 

The stakeholders of the company recently approved a proposal to issue 411.4 Cr bonus shares ahead of the ecommerce major filing DRHP with markets regulator SEBI.

On the financial front, Meesho managed to trim down its net loss by 81.8% to INR 304.9 Cr in the financial year ended in March 2024 (FY24) from INR 1,675 Cr in the previous year due to improvement in its margins.

Meanwhile, Its operating revenue jumped 32.8% to INR 7,614.9 Cr during the year under review from INR 5,734.5 Cr in FY23.