Zepto plans IPO filing by March-April; Singapore nod in for moving domicile
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The company is aiming to file its draft red herring prospectus by March, ideally, but that may slip into April as well, the people said.
Meanwhile, the National Company Law Tribunal is scheduled to hear on January 17 its reverse merger application to move the domicile from Singapore to India. The Singapore clearance was a significant part of the process.
The Bengaluru-based company has called a board meeting on January 19, people briefed on the matter said, likely to deliberate on the IPO size and appointment of bankers for the issue, as well as consider resolutions on shifting the holding entity to India.
“They (Zepto) are knee-deep in the IPO process and the next board meeting will also discuss this,” one of the people said. “The reverse merger needs to be approved and the Indian entity will also require a certain timeline before it can turn into a public limited company — a process before filing for IPO.”
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