Udaan said on July 14 that it had proposed a roughly US$160 million transaction comprising fresh equity, new debt, and a debt-to-equity conversion.

The company said existing shareholders and a new investor would inject fresh capital, while certain convertible bondholders would convert part of their outstanding bonds into equity.

The remaining bond balance would be extended on revised terms.

Udaan also said an unnamed investment management firm had committed about US$45 million through its private credit platform.

Udaan said the transaction would strengthen its balance sheet and simplify its capital structure.

The company also said revenue grew at about a 25% compound annual growth rate from Q4 CY23 to Q1 CY26.

Contribution margin improved by nearly 500 basis points, and EBITDA burn fell by around 70%.

The package follows Udaan’s US$114 million series G round at a US$1.8 billion valuation.

🔗 Source: Udaan

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