Swiggy’s subsidiary Swiggy Networks Ltd has entered into a share acquisition agreement with B2B e-commerce unicorn Udaan to transfer its retail distribution platform Lynk in a share-swap transaction valuing the business at Rs.500 crore.

Under the proposed transaction, Swiggy Networks will transfer its entire shareholding in Lynks Logistics Ltd, which operates Lynk, to Trustroot Internet Pvt Ltd (TIPL), the Singapore-based parent entity of Udaan.

In exchange, TIPL will issue 1.67 lakh Series R Compulsorily Convertible Preference Shares (CCPS) to Swiggy Networks at an issue price of $314.40 per share. The shares are valued at approximately $52.37 million and will provide Swiggy with an estimated 2.8percent stake in Udaan.

Swiggy will separately invest Rs. 75 crore in the primary capital of TIPL for an additional 0.4percent stake. Following the investment, Swiggy’s total shareholding in Udaan is expected to increase to around 3.2percent.

The transaction values Lynk at Rs.500 crore. According to Swiggy’s filing with the stock exchanges, the business generated revenue of ₹668 crore during the financial year ended March 31, 2026. This represented 2.90percent of Swiggy’s consolidated revenue for the year.

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The net assets attributable to Lynk stood at Rs.500 crore as of March 31, 2026, accounting for 2.73percent of Swiggy’s consolidated net worth.

The proposed transaction is expected to be completed by October 22, subject to customary closing conditions and regulatory approvals.

The deal will give Swiggy an expanded financial interest in Udaan while transferring ownership of Lynk’s retail distribution business to the B2B e-commerce company. Lynk operates in the retail distribution segment, connecting brands and retailers through its technology-led platform.

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The transaction also comes as Udaan continues to strengthen its position in India’s B2B e-commerce and retail distribution ecosystem, while Swiggy focuses on its broader consumer internet and commerce businesses.