Khaitan & Co advised Salesforce Ventures on the reverse flip of fintech unicorn Razorpay, shifting its parent company’s domicile from the US to India.
The deal was the first to make use of India’s fast-track cross-border merger regime to complete a reverse flip. The Firm provided advice to Salesforce Ventures in relation to (a) preservation and replication of its rights as they existed in Razorpay US pursuant to the reverse flip; and (b) tax implications on Salesforce Ventures in relation to the reverse flip.
The core team consisted of Partners Monika Srivastava, & Sanchit Agarwal, Associates Romit Kohli, and Shivangi Mishra, with assistance from Partner Ritu Shaktawat, on tax aspects.
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