Livspace Plans Domicile Shift to India for IPO

23 Sep 2024 CW Team

Livspace, a home decor startup backed by Ikea, has received in-principle approval from its board to shift its domicile to India from Singapore. Founder Ramakant Sharma confirmed plans for an initial public offering (IPO) by late 2025 or early 2026, contingent on regulatory approvals.

Key Details:

Regulatory Changes: The Indian government has eased the domicile transfer process by eliminating the requirement for National Company Law Tribunal approval, streamlining the migration timeline.

Market Context: Livspace is poised to be among the first companies to leverage this new policy, joining other notable startups like Razorpay and Meesho in relocating their headquarters.

Financial Performance: The company is on track for a revenue run-rate of Rs 1,500 crore for FY25. Livspace aims for positive EBITDA by March 2025, following a notable improvement from a -9% EBITDA in FY24.

Expansion Strategy: Livspace plans to double its store count to 200 by March, focusing on non-metro markets such as Patna and Guwahati. The company is also exploring acquisitions in the consumer brand sector to enhance its portfolio.

Service Range: Livspace offers home decor services priced between Rs 1 lakh and Rs 1 crore, catering to a broad customer base through various brands.

Unicorn Status: Livspace achieved unicorn status in 2022 after securing $180 million in funding, valuing the company at over $1 billion.

Conclusion: The shift to India and the anticipated IPO reflect Livspace’s growth trajectory and commitment to enhancing its market presence.

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