Udaan to begin reverse flip to India ahead of IPO

Udaan is preparing to execute a "reverse flip" by relocating its corporate base from Singapore to India in the coming weeks, according to a report from ET. This restructuring is a key step in the company's path toward an Initial Public Offering (IPO).

As part of this process, Udaan will merge its Singapore holding company into its Indian subsidiary, Hiveloop Ecommerce, which will then function as the primary parent entity. This follows a broader two-year effort to streamline operations, during which the company exited non-core sectors like lifestyle and general merchandise to focus on groceries and essentials. Additionally, Udaan has consolidated its reach from 80 cities to approximately 16 to maximize operational efficiency.