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Groww Pays $160M Tax in Return to India

On Monday, the Indian company Groww said it had paid $159.4 million in taxes when it moved its headquarters from the U.S. to India

The U.S. and many other developed markets still have slow IPO markets, but India has become a hotbed for them this year. India already has the second-highest initial public offerings (IPOs) in any calendar year, with almost 70 IPOs in the first nine months of 2024.

Almost a dozen Indian startups are moving their headquarters from the U.S. and Singapore to India to follow Indian rules better and make it easier for them to go public in the country. Moving to a new home country causes a tax event for both owners and the new business

One big reason so many startups are returning to India is the chance to get better coverage from analysts, even for companies worth less than $2 billion. This publicity is very important for attracting institutional investors. Many Indian startups, including many that Y Combinator-backed, have set up shop in the U.S. over the past ten years.

James Emmanuel

James is a Computer Science student with a robust foundation in tech and a skilled DevOps engineer. His technical expertise extends to his role as a news reporter at Protechbro, where he specializes in crafting well-informed, technical content that highlights the latest trends and innovations in technology.

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