Livspace to file for domicile flip from Singapore for IPO

23 Sep 2024 CW Team

Sharma mentioned that the Indian government’s recent policy change, which eliminates the need for National Company Law Tribunal approval when moving domicile to India, has significantly reduced the time required for such a transition. Livspace could be among the first companies to seek approval under this new regime.

Sharma, who also serves as the company’s Chief Operating Officer, stated that the IPO is planned within the next 18 to 24 months, noting that few consumer internet companies are experiencing annual growth of 35-40% while maintaining profitability at that scale. He emphasised that the change in domicile is crucial to the company's IPO plans and appreciated the government’s efforts to facilitate this process.

Livspace is set to join other prominent Indian startups, including Razorpay, Meesho, and Zepto, in moving their holding companies to India as they prepare for public listings. Many of these companies originally domiciled abroad to take advantage of favourable tax policies and easier access to funding. In recent years, the Indian government has been working to improve regulations to encourage such companies to return.

In addition to its IPO plans, Livspace is actively seeking acquisitions in the consumer brand sector, particularly in appliances and home furnishings, to complement its current business. The company is also expanding its physical presence, with plans to double its number of stores to 200 by March, focusing on non-metro markets such as Patna, Varanasi, and Guwahati, which have shown strong performance. Sharma noted that Livspace has exited low-margin business-to-business deals, such as those with commercial offices, to concentrate on higher-margin opportunities.

Livspace, a home décor startup backed by Ikea, is preparing to shift its domicile from Singapore to India, having received in-principle approval from its board for the move, according to founder Ramakant Sharma. The company is targeting an initial public offering (IPO) by late 2025 or early 2026, although the exact timing remains subject to change.Sharma mentioned that the Indian government’s recent policy change, which eliminates the need for National Company Law Tribunal approval when moving domicile to India, has significantly reduced the time required for such a transition. Livspace could be among the first companies to seek approval under this new regime.Sharma, who also serves as the company’s Chief Operating Officer, stated that the IPO is planned within the next 18 to 24 months, noting that few consumer internet companies are experiencing annual growth of 35-40% while maintaining profitability at that scale. He emphasised that the change in domicile is crucial to the company's IPO plans and appreciated the government’s efforts to facilitate this process.Livspace is set to join other prominent Indian startups, including Razorpay, Meesho, and Zepto, in moving their holding companies to India as they prepare for public listings. Many of these companies originally domiciled abroad to take advantage of favourable tax policies and easier access to funding. In recent years, the Indian government has been working to improve regulations to encourage such companies to return.In addition to its IPO plans, Livspace is actively seeking acquisitions in the consumer brand sector, particularly in appliances and home furnishings, to complement its current business. The company is also expanding its physical presence, with plans to double its number of stores to 200 by March, focusing on non-metro markets such as Patna, Varanasi, and Guwahati, which have shown strong performance. Sharma noted that Livspace has exited low-margin business-to-business deals, such as those with commercial offices, to concentrate on higher-margin opportunities.

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