Quick commerce startup Zepto has shifted its headquarters from Singapore to India as part of a trend where Indian startups are returning to their home country.

This relocation occurs as the company prepares for an anticipated initial public offering (IPO) anticipated later this year.

Recent regulatory revisions in India have made it easier for companies to move their headquarters back to the country.

Many Indian startups, including Flipkart, Eruditus, and Udaan, initially registered abroad, mainly in Singapore. This was to access foreign capital and to keep options open for US listings, which are restricted for companies based in India.

However, the Indian IPO market has gained momentum over the last two years, attracting these firms back.

Valued at US$5 billion, Zepto raised over US$1.35 billion last year and plans to raise up to US$1.1 billion in its upcoming IPO.

Zepto is known for its 10-minute delivery service for groceries and household essentials.

Recent Zepto developments