Bengaluru, Sept. 7 -- Business-to-business e-commerce platform udaan will acquire Swiggy-owned LYNK Logistics for Rs 500 crore, while Swiggy will become a shareholder in udaan with a stake of about 3.2 per cent following the transaction, according to a company press release issued on Monday.

The acquisition will be settled through the issuance of preference shares to Swiggy in Trustroot Internet Private Limited (TIPL), the parent entity of udaan. Swiggy will receive about a 2.8 per cent stake in udaan as part of the transaction and will separately invest Rs 75 crore in fresh equity in TIPL for an additional stake of around 0.4 per cent.

Commenting on the deal, udaan Co-Founder and CEO Vaibhav Gupta said, "This deal is a strong endorseme...