Author: Ashwath Pai , ASA
This article explores the emerging trend of “reverse flipping” among Indian start-ups. Amid declining funding in early 2024, mature start-ups are shifting their holding structures back to India, driven by improved regulatory conditions, favourable tax incentives, and strong stock market valuations. Methods like share swaps and inbound mergers facilitate this transition, despite their complex tax and regulatory implications. The International Financial Services Centres Authority (IFSCA) supports this trend, recommending reforms to make India, especially GIFT City, a more attractive base for start-ups.
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