Udaan buys Swiggy's LYNK for ₹500 cr as e-commerce firm readies for IPO

•Udaan buys Swiggy's LYNK for ₹500 cr in an all-equity deal, expanding its distribution platform.

•Swiggy acquires 2.8% stake in Udaan and invests ₹75 cr in Trustroot Internet, Udaan's parent entity.

•The acquisition strengthens Udaan's presence in key markets, including Bengaluru, Hyderabad, and Chennai.

•Kotak Investment Banking advised Udaan on the transaction, subject to regulatory approvals.