Zepto has completed a cross-border merger with Singapore-based Kiranakart Pte. Ltd., as announced by the National Company Law Tribunal (NCLT). The merger, completed in less than three months, combines the two entities under India's Companies Act, 2013. The merger comes at a time when the quick commerce platform is preparing for a potential initial public offering (IPO) in the next 18-24 months.

The company has also received approval from Singapore to shift its domicile back to India to consolidate its operations for a future IPO. According to a report in the Economic Times, the NCLT will also hear Zepto's reverse merger application to shift its domicile back to India on January 17. What will be the benefit of the merger The merger scheme will help Zepto integrate its operations with Kiranakart, streamlining its structure to drive future growth. The NCLT statement said that the merged entity will issue shares and convertible preference shares to Kiranakart shareholders, further strengthening their interests. Financially, Zepto is growing rapidly, with sales expected to exceed Rs 5,000 crore in FY24 - double the Rs 2,500 crore recorded in FY23.