ETRetail | Eyeing less taxing space, Online grocery delivery company Grofers shifts base to Singapore

ETRetail | Eyeing less taxing space, Online grocery delivery company Grofers shifts base to Singapore

GURGAON: Online grocery delivery company Grofers is moving its base to Singapore, joining a growing list of Indian startups that have moved their base to overseas markets because of their business-friendly tax regimes and regulations. The Sequoia Capital-backed company's India operations will be controlled by a new subsidiary, Grofers India (GIPL), Albinder Dhindsa, cofounder and CEO of Grofers, told ET. "GIPL will be a 100% owned subsidiary of Singapore-based Grofers International," said Dhindsa. "The move also opens up avenues of international listing in future. When you are a startup, restructuring is easier," Albinder Dhindsa added. The restructuring at Grofers is expected to facilitate faster fund-raising as its institutional investors are based overseas. Grofers' rivals PepperTap, BigBasket and Swiggy have recently raised funds to fuel their expansion plans. Grofers ...

Full article: http://retail.economictimes.indiatimes.com/news/food-ente...

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