Key Points
Digital payments platform Razorpay plans to move its parent firm to India through a cross-country merger that may entail a tax payment of $250-300 million in the US, where it is currently domiciled, according to multiple people aware of discussions...
The planned merger will be between the US-registered firm and its Indian arm, they said.. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisit..
ET first reported on May 9 about Razorpay being in the process of moving back its parent entity to India amid tighter fintech regulations...
The company is estimating it would have to shell out the tax amount once the process nears closure, people aware of the matter said.. Emails sent to Razorpay and Deloitte did not elicit any response till press time on Monday..
For companies which have a large shareholder base, doing a cross-border merger with their foreign entity is a comparatively less cumbersome process than a share swap, which requires higher administration to consummate with each shareholder, said Rishabh Mastaram, founder RGM Legal...
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