Bengaluru-based udaan, a business-to-business (B2B) ecommerce platform for retailers and suppliers, said on September 7 that it had agreed to acquire LYNK Logistics Limited, Swiggy’s wholly owned retail distribution platform, for 5 billion rupees (US$53 million).

The deal will be settled with preference shares in Trustroot Internet Private Limited, udaan’s parent company, giving Swiggy about 2.8% of udaan.

Swiggy will also invest 750 million rupees (US$7.94 million) in TIPL for an additional roughly 0.4% stake.

Udaan said the acquisition adds LYNK’s distribution capabilities, brand relationships, and retail network.

Bengaluru, Hyderabad, Chennai, and Kolkata contribute about 75% of LYNK’s revenue.

The announcement follows udaan’s recent US$160 million recapitalisation, which included fresh equity, new debt, and debt-to-equity conversion.

LYNK was previously acquired by Swiggy in 2023.

Udaan said the acquisition is subject to customary closing conditions and regulatory approvals.

🔗 Source: udaan

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