What the LYNK deal means for Udaan

Ahead of its planned initial public offering, B2B e-commerce startup Udaan is acquiring retail distribution platform LYNK Logistics from Swiggy in a share-swap deal worth Rs 500 crore. In a filing with the Bombay Stock Exchange on Monday, September 7, Swiggy said the transaction will be settled through the issuance of preference equity shares to the foodtech company by Trusthoot Internet, the parent company of Udaan. “Trusthoot Internet will issue and allot 166,534 Series R Compulsorily Converti