Swiggy to Sell Lynk to Udaan for ₹500 Cr, Acquire 3.2% Stake in B2B Unicorn
Indian food delivery platform Swiggy is selling its subsidiary Lynk, a retail distribution unit, to B2B e-commerce company Udaan for approximately ₹500 crore. Swiggy will also invest in Udaan, acquiring a 3.2% stake.
Indian food delivery company Swiggy has agreed to sell its subsidiary, Lynk, a retail distribution platform, to B2B e-commerce unicorn Udaan. The deal, valued at approximately ₹500 crore (around $6 million), will be structured as a share-swap transaction.
Swiggy Networks Ltd., Swiggy's subsidiary, will transfer its entire shareholding in Lynks Logistics Ltd to Trustroot Internet Pvt Ltd (TIPL), Udaan's Singapore-based parent entity. The Lynk business contributed ₹668 crore in revenue for the financial year ending March 31, 2026, representing 2.90% of Swiggy's consolidated revenue, with net assets of ₹500 crore.
In exchange, TIPL will issue shares to Swiggy Networks, granting the food delivery firm an approximate 2.8% stake in Udaan. Swiggy will further invest ₹75 crore in primary capital into TIPL, increasing its total shareholding in Udaan to about 3.2%.
The transaction is expected to be completed by October 22, subject to customary closing conditions and regulatory approvals. The divestment allows Swiggy to concentrate on its core food delivery operations.