Main Body
Financial Details: The transaction is structured as a share swap where Swiggy Networks Limited will transfer 100% of the issued and outstanding share capital of Lynks Logistics Limited to Trustroot Internet Private Limited (TIPL). As consideration, TIPL will issue and allot to SNL 166,534 Series R Compulsorily Convertible Preference Shares (CCPS) at an issue price of USD 314.40 per CCPS.
Business Being Divested: The B2B authorized distribution business proposed to be transferred to Lynks is currently operated by Swiggy Networks Limited. During FY2025-26, this business contributed revenue of ₹668 crore (representing 2.90% of Swiggy's consolidated revenue) and had net assets of ₹500 crore (representing 2.73% of consolidated net worth).
Transaction Structure: Pursuant to a Business Transfer Agreement, the B2B distribution business is first transferred by SNL to Lynks, following which SNL will sell its entire shareholding in Lynks to TIPL.
Date of Execution: September 07, 2026
Expected Completion Date: October 22, 2026, subject to fulfilment of conditions precedent and other terms in transaction documents.
Parties Involved:
- Seller: Swiggy Networks Limited (wholly owned subsidiary of Swiggy Limited)
- Target: Lynks Logistics Limited (step-down wholly owned subsidiary)
- Buyer: Trustroot Internet Private Limited
Regulatory Approvals: The transaction is not a related party transaction as TIPL does not belong to the promoter/promoter group/group companies. TIPL and its affiliates are engaged in cash and carry wholesale trading with registered office at 168 Robinson Road, #06-01, Capital Tower, Singapore 048624.