19 Mar 2026


This is a link-enhanced version of an article that first appeared in Livemint
Article Overview:
This article highlights that, despite geopolitical tensions pushing IPO timelines further out, India’s tech startups are continuing with plans to move their headquarters back to India. The shift is being fueled by the prospect of stronger valuations, ample domestic liquidity, supportive regulatory changes, and the declining attractiveness of US listings.
Our Partner, Richa Choudhary, Capital Markets, shared her perspective. Here’s what she had to say:
“Reverse flips have gained significant momentum since 2023 as IPO-bound companies align their corporate structures with their core operations and customer bases in India.”
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