Swiggy To Sell Lynk To Udaan For ₹500 Cr, Pick Up 3.2% Stake In B2B Unicorn

Swiggy’s subsidiary, Swiggy Networks Ltd, has entered a share acquisition agreement with B2B ecommerce unicorn Udaan to acquire Swiggy-owned retail distribution platform Lynk in a share-swap transaction valuing the business at ₹500 Cr.

Under the deal, Swiggy Networks will transfer its entire shareholding in Lynks Logistics Ltd to Trustroot Internet Pvt Ltd (TIPL), Udaan’s Singapore-based parent entity.

“During the financial year ended March 31, 2026, the said business contributed revenue of ₹668 Cr, representing 2.90% of the consolidated revenue of the company. The net assets attributable to the said business were ₹500 Cr as at March 31, 2026, representing 2.73% of the consolidated net worth of the company,” Swiggy said in its filing with the exchanges.

In return, TIPL will issue 1.67 Lakh Series R CCPS to Swiggy Networks at an issue price of $314.40 apiece. The shares, worth $52.37 Mn, will give Swiggy a roughly 2.8% stake in Udaan.

Swiggy will also invest ₹75 Cr in primary capital in TIPL for an additional 0.4% stake, taking its total shareholding in Udaan to about 3.2%.

The acquisition is expected to be completed by October 22, subject to customary closing conditions and regulatory approvals.

(The story will be updated soon)

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