New Delhi, July 14 -- Business-to-business e-commerce platform Udaan on Tuesday announced a financing round of about $160 million, comprising fresh equity, new debt and a debt-to-equity conversion.

Existing shareholders, along with a new investor, will infuse fresh capital into the company, while certain investors will convert a portion of their outstanding bonds into equity, the IPO-bound firm said in a statement.

The remaining outstanding balance of the convertible bonds will be extended on revised terms and conditions, it added.

The company also said that an investment management firm has committed approximately $45 million through its private credit platform as part of the transaction.

The proposed fundraising comes amid ongoing i...