The BrowserStack holding entity rollback process may take nearly eight months if the regulatory process goes smoothly
Notably, the Indian subsidiary BrowserStack Software Private Limited is based in Mumbai.
Founded in 2011 by Arora and Nakul Aggarwal, BrowserStack offers a platform for testing software across various devices and browsers.
SaaS Unicorn Browser stack
has reportedly begun the process of redomiciling its holding entity from Ireland to India.
According to The Arc’s report, citing sources, the company’s rollback process may take nearly eight months if the regulatory process goes smoothly. However, in case of an issue flagged by the Securities Exchange Board of India (SEBI), the Reserve Bank of India (RBI) or the antitrust body CCI, the process can take up to a year.
To return its domicile to India, BrowserStack would have to pay taxes to the Irish Companies Registration Office.
Notably, the Indian subsidiary BrowserStack Software Private Limited is based in Mumbai.
Founded in 2011 by Arora and Nakul Aggarwal, BrowserStack offers a platform for testing software across various devices and browsers. The company prides itself on being profitable since its inception and has over 15 products in its portfolio, 10 of which have been launched in the last 18 months.
Last year, BrowserStack acquired a Berlin-based enterprise technology platform Bird Eats Bug in $20 Million Deal.
The company entered the unicorn club in 2021.
This development comes at a time when many new age technology companies are joining the opposite trend. This trend is driven by several factors such as tax benefits in India, easier regulatory compliance and the possibility of an IPO.
Last year in May, a financial technology company Groww has completed its turnaroundmoving his home from the United States to India. Groww’s redomiciliation came after fintech giant PhonePe moved from Singapore to India in 2022.
It was also reported in October last year that Tiger Global-backed Tiger Global, Mensa Brands is moving its home from Singapore to India.
Additionally, fintech startup Pine Labs also received the first round of approvals of the National Company Law Tribunal (NCLT) to merge its Singapore entity with its Indian subsidiary last year.