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Delaware is a tax haven in USA, they are moving from Delaware to I guess Gujarat(maybe) for the IPO so they have to compensate for the transition
Gujarat, lol 😂
IMHO, that's the best business friendly state in India. Also textile hub Surat is in Gujarat.
Also, if you read Meesho's journey they started operations in Surat.
Secondary means the capital will be used to buy out shares of early investors. Primary means the capital gets infused into the business.
They're a YC portfolio company, YC mandates each company to be registered in the US. Now meesho is planning for an IPO, for which they need to be registered in India. The whole exercise is being done for that. Phonepe also did the same little while ago
Well done Meesho!
When you want to flip a company from DW to IN, there is a share/equity exchange that happens in a way that IN is a new company and DW becomes its subsidiary. So you need to pay taxes on capital gains that occurred for people owning the equity. (They had zero value equity in India and now suddenly in millions).
The calculation is non trivial. You have a established market value (not zero) and now the paper value of total equity. The difference is what is taxed. (Same tax as when you exercise your esops in india)
Kuch bhi!! 😄
Ameeron ki harkathe
Hume kya
Karne do
Meanwhile am thinking, 🤔 Meesho still doing good business?
This is crazy
They already buy some of the ESOP but valuation is lower than previously raised round.