India, March 31 -- Gaming unicorn Dream11 has announced its "ghar wapsi", becoming the latest startup to move its domicile to India from overseas.

On January 6, the startup's board of directors approved the merger of its US entity, Dream Sports Inc, with its India entity, Sporta Technologies Pvt Ltd.

In what is perhaps a first for the Indian startup ecosystem, Dream11 leveraged the recently implemented fast-track mechanism to complete its reverse migration.

As per its filing with the MCA, Dream11's board passed the resolution for merging its two entities under Section 233 of the Companies Act, 2013.

In an amendment last September, the Centre fast tracked the reverse flip process for specific categories of companies, allowing mergers a...