Archive · 10 Sep 2026
Swiggy’s LYNK Exit Shifts B2B Strategy Toward Udaan IPO Upside
Swiggy owns a company called LYNK that helps brands deliver products to shops.
Swiggy bought LYNK in 2023, but it was not a main part of Swiggy’s business.
Swiggy is now transferring LYNK to another company called Udaan.
The deal values LYNK at Rs 500 crore.
Instead of getting money immediately, Swiggy will keep a small ownership stake in Udaan.
This could become more valuable if Udaan later sells shares to the public.
Udaan gets LYNK’s network of about 1 lakh shops and its brand relationships.
The deal still needs approvals and is expected to close by October 22.
Swiggy is selling LYNK to Udaan in a deal valuing the platform at Rs 500 crore.
Swiggy acquired LYNK in 2023, but the distribution business remained peripheral to its food-delivery and quick-commerce operations.
Instead of receiving cash, Swiggy will retain exposure to Udaan through a minority stake.
LYNK serves around 1 lakh retail stores, with Bengaluru, Hyderabad, Chennai and Kolkata generating about 75% of its revenue.
The transaction is expected to close by October 22, subject to customary conditions and regulatory approvals.
- Who
- Swiggy, LYNK and Udaan, with analysis from Shobit Singhal of Anand Rathi Institutional Equities.
- What
- Udaan is acquiring LYNK in a deal valuing the retail distribution platform at Rs 500 crore, while Swiggy retains exposure to Udaan.
- When
- The transaction is expected to close by October 22, subject to customary closing conditions and regulatory approvals.
- Where
- LYNK serves retail stores across India, with Bengaluru, Hyderabad, Chennai and Kolkata accounting for around 75% of its revenue.
- Why
- Swiggy is moving away from directly operating a non-core distribution asset while retaining potential upside from Udaan’s planned public listing.
- Deal valuation
- Rs 500 crore
- Swiggy’s LYNK acquisition
- 2023
- LYNK retail reach
- Around 1 lakh retail stores
- Main revenue cities
- Bengaluru, Hyderabad, Chennai and Kolkata
- Udaan recapitalisation
- $160 million
- Expected closing
- By October 22, subject to conditions and approvals