Meesho to pay $288 million in taxes to flip back to India ahead of IPO

IPO-bound e-commerce startup Meesho is set to pay $288 million, or Rs 2,461 crore, in taxes to move its headquarters out from Delaware in the US to India, sources told Moneycontrol. Meesho’s tax bill is among the largest for a startup in recent times, after PhonePe’s hefty $1 billion outgo. Moneycontrol was first to report back in April 2024 that Meesho will pay around $300 million in taxes as part of its redomiciling. The company had stitched together a round as large as $550-600 million and half of that amount, which was in primary capital and came from Tiger Global, SoftBank and others, was reserved to pay the tax amount, the report had said.