Swiggy to sell Lynks Logistics to Trustroot Internet in $52.4m deal
Swiggy will transfer its B2B authorised-distribution business to Lynks Logistics before selling the unit to Singapore-based Trustroot Internet. The transaction, payable in preference shares, is expected to close by October 22 subject to conditions.
What happened
Swiggy will transfer its B2B authorised distribution business to Lynks Logistics and sell Lynks to Singapore’s Trustroot Internet for $52.4 million in
Key facts
- $52.4 million transaction value
- 166,534 Series R compulsorily convertible preference shares
- $314.40 per share
- ₹668 crore B2B distribution revenue in FY ended March 31, 2026
- ₹500 crore B2B business net assets
- 2.90% of Swiggy consolidated revenue
- ₹791 crore Q1 consolidated net loss
- ₹6,812 crore Q1 revenue from operations
Why this matters
By transferring the distribution business into Lynks before sale, Swiggy has structured a clean carve-out that sharpens strategic focus while giving Trustroot an established B2B logistics platform.
What to watch
- Formal confirmation that all closing conditions have been met by the expected October 22 deadline.
- Disclosure of the preference-share terms, implied Lynks valuation, redemption/conversion features and Swiggy's residual economic exposure.
- Customer, supplier and employee retention through the business-transfer period.
- Any stated transition-services agreement or continuing commercial relationship between Swiggy and Lynks.
- Trustroot's post-acquisition investment plans, leadership appointments and expansion into new B2B distribution categories.
- Changes in Swiggy's reported losses, cash burn, segment disclosures or capital-allocation commentary after deconsolidation.
- Complete the internal transfer of Swiggy's B2B authorised-distribution business to Lynks Logistics before the sale closes.
- Seek required corporate, regulatory and contractual approvals for the carve-out and ownership transfer.
- Define transition-service arrangements for technology, data, finance, supplier contracts and employee migration.
- Reallocate management bandwidth and potentially capital toward Instamart, food delivery profitability and other core consumer platforms.
- Monitor the valuation, conversion rights, liquidity terms and governance protections attached to the Trustroot preference shares.