Swiggy Networks Limited, a wholly owned subsidiary of Swiggy Limited, has agreed to sell its entire shareholding in Lynks Logistics Limited, a step-down wholly owned subsidiary. The transaction, formalized via a Share Acquisition Agreement, is expected to complete by October 22, 2026. Lynks Logistics reported a negative net worth of ₹11 lakh for the financial year ended March 31, 2026. The business being transferred generated approximately ₹668 crore in revenue, representing 2.90% of Swiggy’s consolidated revenue.
Swiggy Divests Stake in Lynks Logistics
Swiggy Networks Limited, a wholly owned subsidiary of Swiggy Limited, has entered into a Share Acquisition Agreement (SAA) and a Deed of Adherence to sell its entire shareholding in Lynks Logistics Limited, a step-down wholly owned subsidiary. This strategic move, dated September 07, 2026, aims to streamline operations and focus resources.
Financial and Operational Details of Divestment
For the financial year ended March 31, 2026, Lynks Logistics reported negligible revenue on a standalone basis and a negative net worth of ₹11 lakh. The business being transferred, a B2B authorized distribution initiative currently operated by Swiggy Networks Limited, contributed revenue of ₹668 crore in the last financial year. This revenue represents 2.90% of Swiggy’s consolidated revenue for the same period. The net assets attributable to this business were valued at ₹500 crore as of March 31, 2026, accounting for 2.73% of the company’s consolidated net worth.
Transaction Structure and Consideration
The transaction involves 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”). In return, TIPL will issue and allot to Swiggy Networks Limited 166,534 Series R Compulsorily Convertible Preference Shares (CCPS) at an issue price of USD 314.40 per CCPS.
Transaction Timeline and Buyer Information
The agreement for sale was entered into on September 07, 2026, with the expected completion date set for October 22, 2026, subject to the fulfillment of customary closing conditions. The buyer, Trustroot Internet Private Limited (“TIPL”), is engaged in the business of cash and carry wholesale trading and is not associated with Swiggy’s promoter or promoter group.
Regulatory Compliance
The transaction has been structured as an arm’s length transaction and does not fall within the ambit of related party transactions. Detailed disclosures required under SEBI Listing Regulations have been provided as an annexure to this intimation.
Source: BSE
