Udaan to acquire Swiggy’s B2B unit Lynk in Rs 500 crore deal

Udaan is set to acquire Swiggy’s B2B retail-distribution business Lynk at a Rs 500 crore enterprise value. Swiggy would receive a 2.8% stake in Udaan via share swap and invest a further Rs 75 crore, taking its holding to about 3.2%.

— Source publishedMon, 7 Sept, 2026, 19:18 IST·First seen Mon, 7 Sept, 2026, 19:27 IST·Source YourStory · Capital

What happened

Udaan will acquire Swiggy’s B2B retail-distribution unit Lynk at a Rs 500 crore enterprise value. Swiggy will receive a 2.8% stake through a share swap and

Key facts

  • Rs 500 crore enterprise value
  • 166,534 Series R CCPS
  • $314.40 per CCPS
  • 2.8% stake via share swap
  • Rs 75 crore primary-equity investment
  • 0.4% additional stake
  • 3.2% total Swiggy stake in Udaan
  • Rs 791 crore Swiggy Q1 FY27 net loss
  • Rs 6,812 crore Swiggy Q1 FY27 revenue
  • Rs 3,195 crore B2B revenue
  • 41.4% YoY B2B growth
  • Rs 2,208 crore food-delivery revenue
  • 22.66% YoY food-delivery growth
  • $160 million Udaan financing in July

Why this matters

The transaction illustrates how an asset-backed share swap can consolidate adjacent B2B capabilities while allowing the seller to retain upside through a minority equity position.

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