Bengaluru-based B2B commerce firm Udaan has announced its plan to purchase LYNK Logistics, the retail distribution arm of Swiggy, for ₹500 crore. Under the terms of the agreement, Swiggy will put ₹75 crore into Trustroot Internet, the parent company of Udaan, and gain a 2.8% stake in the firm. This development follows Udaan's recent funding round in July, where it raised $160 million through a mix of new equity and debt-to-equity conversion.

by shortkt.com✓

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