One of the leading fintech startups – Pine Labs – is moving further in the development of the company’s strategy in India. The company has received the approval from the National Company Law Tribunal (NCLT) to amalgamate the Singapore incorporated entity of the company with its Indian operation. This tactical maneuver is anticipated to open several opportunities that ranges from efficient operations, cost reduction, up to integration of synergism.
The company’s plan to consolidate its operations in India is designed to produce scale economies as well as enable the firm to make improvements on its operating processes. The merger will help the company to offload many administrative and compliance costs that will in turn release resources for growth. Besides, the relocation will help Pine Labs to be more in sync with the Indian market, which has shown a lot of promise to the company.
Once the NCLT approval is gotten, Pine Labs will then go to the various government bodies like the Ministry of Corporate Affair, Registrar of Companies and the Reserve Bank of India for other approvals. Once these approvals are obtained, the company can go ahead and implement the merger process and in the process fully invest in India.
