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udaan to buy Swiggy arm Lynks Logistics for Rs 500 crore
In Short
According to a statement, the transaction will be settled through the issuance of preference equity shares to Swiggy in Trustroot Internet (TIPL), which is the parent entity of udaan
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udaan to buy Swiggy arm Lynks Logistics for Rs 500 crore
New Delhi: B2B platform udaan on Monday announced the acquisition of Lynks Logistics Ltd, a step-down wholly owned subsidiary of Swiggy, for Rs 500 crore in a deal that would see the food delivery and quick commerce major pick a cumulative 3.2 per cent stake in udaan.
According to a statement, the transaction will be settled through the issuance of preference equity shares to Swiggy in Trustroot Internet (TIPL), which is the parent entity of udaan. As per the deal, Swiggy will acquire nearly 2.8 per cent stake in udaan and make a primary equity investment of Rs 75 crore in TIPL for an additional about 0.4 per cent stake in udaan.
In a regulatory filing, Swiggy said its wholly owned subsidiary Swiggy Networks Ltd has entered into an agreement for the sale of its entire shareholding in Lynks Logistics Ltd, a step-down wholly owned subsidiary of the company, to udaan's parent firm Trustroot Internet Pvt Ltd (TIPL) through a share swap.
"We wish to inform that Swiggy Networks Ltd, a wholly owned subsidiary of the company, has entered into a share acquisition agreement and a deed of adherence-cum-second amendment agreement to the amended and restated Series G shareholders' agreement,
dated September 7, 2026, for the sale of its entire shareholding in Lynks Logistics Ltd, a step-down wholly owned subsidiary of the company," Swiggy said. The transaction will be undertaken by way of a share swap, under which Swiggy Networks Ltd will transfer 100 per cent of the issued and outstanding share capital of Lynks to TIPL.
