Ecommerce company BRND.ME, formerly Mensa Brands, has obtained approval from the National Company Law Tribunal (NCLT) to transition its base from Singapore to India in preparation for its upcoming initial public offering (IPO). The move involves merging Mensa Singapore with Mensa India, following a structured process that consolidates seven Indian group entities into the Indian holding company.
With the NCLT’s approval secured in February, BRND.ME’s CEO Ananth Narayanan highlighted the significance of this redomiciling, stating, “This redomicile sets us up with a much stronger foundation as we look ahead to the next phase of growth, including our path to becoming a public company.”
Looking ahead, BRND.ME aims to launch its IPO in the Indian public market within the next 12 to 18 months. The company also reports achieving adjusted EBITDA profitability and positive operating cash flow in the current fiscal year, projecting a revenue range of ₹1,700 to ₹1,800 crores.
Despite a projected 5.8% decline in consolidated revenue in FY25, BRND.ME remains optimistic about its future prospects. The company’s strategic move to redomicile aligns with its growth trajectory and IPO ambitions, indicating a pivotal phase in its evolution as a tech-driven e-commerce entity.
Source: Inc42 Media