Dream11 parent company shifts domicile to India

Dream Sports, the parent company of Dream11, has shifted its domicile from the US to India, becoming the latest company to do so, as the country’s startup ecosystem sees favourable policies and improved IPO markets.

“Dream Sports is leveraging tech to unlock the massive potential of India’s sports ecosystem. We have completed a ‘ghar waapsi’ and are now an Indian domiciled business,” the company said in a statement on Tuesday.

Many Indian startups, including Udaan, Meesho, and Pine Labs, are in the process of reverse flipping to India, while IPO-bound quick commerce platform Zepto has already shifted its domicile.

Dream Sports shifting its domicile mirrors a larger trend in the Indian startup ecosystem, fueled by a 2024 amendment that removes the National Company Law Tribunal (NCLT) approval for an overseas company to merge with an Indian firm. Prior to this, the merging process would have needed the approval from the Reserve Bank of India (RBI) and the NCLT.

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Another fast-track route for companies to shift their domicile to India only needs RBI approval, which has helped many entities cut short the time taken to reverse flip.

These steps also mirror the maturing startup landscape in the country and the public markets. Indian startups saw 13 IPOs in 2024, raising nearly Rs 30,000 crore, according to an Entrackr report.

Additionally, India is seeing a rising trend of startups in the growth stage and even companies with revenue as less as Rs 100 crore being listed on stock exchanges.

For instance, Unicommerce, which raised Rs 277 crore through its IPO, reported Rs 89.5 crore in revenue, a 16.2% YoY increase for the first nine months of FY25.