Indian trading and mutual fund platform Groww has paid $159.4 million in taxes as it shifted its headquarters from the U.S. back to India.
The relocation is part of a broader trend, with nearly a dozen startups returning to India to comply with local laws and prepare for public listings. India has become a hotspot for IPOs in 2024, with nearly 70 offerings so far. Startups also benefit from better analyst coverage, helping attract institutional investors, even for companies valued below $2 billion.