Industry experts Business Standard spoke to said this was a rising trend.
"The trend will sustain. Ultimately, investors are ready to pay the big tax burden of reverseflipping since valuations in India are better," said Vishwas Patel, joint managing director, Infibeam Avenues, and chairman, Payments Council of India (PCI).
After Walmart-backed PhonePe changed its domicile to India earlier this year, others followed suit wanting to switch their domicile could not be ascertained, according to Tracxn, a market-intelligence platform, there are close to 50 fintechs domiciled overseas currently.
At present, these fintechs operate across industries such as digital payments and lending, cryptocurrency exchanges, investment tech, and software as a service (SaaS).
They are domiciled in countries such as Singapore, Mauritius, the United States, the United Kingdom, and Germany.
"Established companies such as PhonePe, Groww, and Pine Labs, which have recently internalised or are in the process of internalising into India, demonstrate the increasing popularity of this process," said Harshita Srivastava, co-head of mergers and acquisitions and PE Practice, Nishith Desai Associates.
Bu hikaye Business Standard dergisinin May 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin May 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Keep gods out of politics: SC
Says no proof yet, slams CM Naidu
Women & child care get booster shot as hospitals eye growth
Sensing high demand for specialised women and child health care services, hospitals are ramping up new centres, expanding workforce and bringing more super-specialities into their fold.
THE NECESSARY AND THE BEAUTIFUL
Emami has built itself through acquisitions. But there is more coming, with a startup turn
Make in India @ 10: A vision for global manufacturing leadership
On this momentous occasion of 10 years of the Make in India, it's time to reflect on the transformational journey India has undertaken towards the mission of making itself a global manufacturing hub.
Rajasthan signs ₹12.5 trn MoUs ahead of investment meet
Investment agreements (MoUs) worth ₹12.5 trillion have been signed during Mumbai and Delhi roadshows in the run-up to the \"Rising Rajasthan\" global investment summit to be held in Jaipur from December 9-11, Rajasthan Chief Minister Bhajan Lal Sharma said on Monday.
SURRENDER VALUE NORMS KICK IN TODAY Life insurers begin rolling out revised bestsellers
With the new surrender value norms effective from Tuesday, most life insurance companies are immediately rolling out revised versions of their bestselling, non-participating products.
Traders must classify imports of lab chemicals under appropriate heads
We refer to Para 5.15(c) of HBP 2023, which was amended by the recent Public Notice no.15 dated 25th July 2024. Will this amendment apply to EPCG authorisations issued in the previous policy periods also?
Chinese stocks enter bull mkt with biggest surge since 2008
Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.
Sebi may maintain status quo on largecap stock pool expansion
20% smallcap and midcap investment leeway to keep largecap expansion in abeyance
Afcons Infra likely to opt for ₹4,000 cr pre-IPO placement
Afcons Infrastructure, part of Shapoorji Pallonji (SP) Group, plans to conduct a pre-listing sale of ₹4,000 crore, according to sources.