Domicile

Merchant-focused payments provider, Razorpay, which was recently allowed to start onboarding new merchants, is internally targeting to turn profitable across all business lines in the next two years and eying a domestic listing post that, its cofounder & chief executive Harshil Mathur told ET. To be sure, its online payments business which contributes to 75% of its overall topline is currently breakeven and not losing any money. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM…

Former Infosys director and industry veteran T V Mohandas Pai has said startups that do almost all their business in India and have all their employees here should resist any pressure from large investors to domicile outside, as he cited key lessons to be drawn from the collapse of Silicon Valley Bank (SVB). Pai advised founders of India-centric startups "to be careful" and "not get carried away" by investors, who force companies they fund, to domicile in the US and open bank accounts there as well. Pai said SVB was a…

Fintech player PhonePe, a part of the Walmart-controlled Flipkart group, on Monday said it has completed the process of moving its domicile from Singapore to India. The development comes ahead of its plans to launch an initial public offering (IPO) for expanding its financial services portfolio and deepening its core United Payments Interface (UPI)-based payments operations and investment banking.Over the past year, PhonePe has moved all businesses and subsidiaries including Insurance Broking Services and Wealth Broking…