Udaan buys Swiggy’s Lynk Logistics for ₹500 crore
B2B ecommerce platform Udaan is acquiring Swiggy’s retail distribution firm, Lynk Logistics, in a deal valued at ₹500 crore. As part of the agreement, Swiggy will receive a minority stake in Udaan and provide additional equity investment.
Why it matters
Signals consolidation in the Indian B2B logistics and ecommerce sector, reflecting strategic shifts in business models.
Udaan, a business-to-business (B2B) ecommerce platform, is acquiring Lynk Logistics, a retail distribution firm owned by Bengaluru-based Swiggy. The deal would value Lynk Logistics at ₹500 crore.
As per the deal, Swiggy would take a 2.8% stake in Udaan as part of the transaction and additionally, the company would also invest ₹75 crore in primary equity in Udaan for an additional ~0.4% stake.
According to a media statement, the transaction would be settled through the issuance of preference equity shares to Swiggy in Trustroot Internet Private Limited (TIPL), the parent entity of Udaan. The transaction is expected to build on Udaan’s recent $160 million recapitalisation exercise, comprising fresh equity, new debt and debt-to-equity conversion by Lightspeed Venture Partners, M&G Investments and Moonstone Capital, including approximately $45 million of private credit financing from a leading global investment management firm.
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