Swiggy Networks Limited is poised to divest its entire stake in Lynks Logistics Limited, facilitating a strategic share-swap agreement with Trustroot Internet Private Limited, commonly known as Udaan. In this arrangement, Swiggy will receive a 2.8% equity share in Udaan, an influential player in the business-to-business (B2B) e-commerce landscape.
The legal intricacies of this transaction are being handled by Trilegal, a renowned law firm. Trilegal’s expertise is being leveraged not only for the share-swap transaction but also for the preceding business transfer process. This involves Swiggy’s B2B distribution vertical being integrated into Lynk, setting the stage for the share exchange.
The transaction is spearheaded by Trilegal partners Gautam Singh and Mitali Halbe. Their team includes Nandita Bhakta, who serves as Counsel, alongside Senior Associates Soham Munshi and Akshay Vaddagiri. The associates involved are Kim Shah and Sanjeesha Agarwal. Additionally, the Labour and Employment Team, led by Partner Parvathy Tharamel with Senior Associate Harshita Arora and Associate Shreya Sharma, is providing crucial support in this multi-faceted transaction.
Udaan’s acquisition of Lynk, valued at approximately ₹500 crore, is a strategic move to enhance its footprint across India’s key consumption markets. As a retail distribution firm under Swiggy Networks, Lynk’s integration into Udaan’s operations is expected to bolster the latter’s market position by expanding its B2B capabilities.
This development underscores a significant growth trajectory for Udaan, aligning with the platform’s broader objectives of consolidating its influence in the e-commerce industry. The transaction, upon completion, will represent a pivotal step in Udaan’s expansion strategy.
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