India, April 28 -- Home decor startup Livspace has secured INR 427.21 Cr (around $50 Mn) in internal funding from its Singapore-based parent entity as it looks to move its domicile back to India, sources told Inc42.

The IKEA-backed startup's board issued 1.85 Cr equity shares at INR 230 per share on a rights issue basis to raise the funds from Livspace Pte Ltd in Singapore, according to regulatory filings with the Registrar of Companies (RoC).

"The capital infusion is part of the reverse flipping process as the company prepares for an initial public offering (IPO)," one of the sources said requesting anonymity.

However, a definite timeline as to when Livspace is targeting to list its shares on Indian bourses could not be ascertained. ...