Udaan to acquire Swiggy's LYNK Logistics for ₹500 crore

Bengaluru-based commerce platform Udaan said it will acquire LYNK Logistics, the retail distribution business owned by Swiggy, for ₹500 crore. Swiggy will invest ₹75 crore in Trustroot Internet, Udaan's parent entity, and acquire 2.8% stake in Udaan as part of the deal. This comes after Udaan secured financing of $160 million comprising fresh equity shares and debt-to-equity conversion in July.