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Udaan Faces Insolvency Over $170 Mn Bond Default, Scrambles For Rescue Funding

B2B ecommerce unicorn Udaan faces insolvency over a $170 Mn bond default while scrambling for rescue funding. Blinkit and Swiggy Instamart denied trading licence in Meghalaya over local-store concerns; FirstCry's Swara files ₹1,000 Cr IPO; Ninjacart and ShareChat advance IPO plans.

Newer report , , Financial Express : Udaan’s struggles sharpen focus on profitable B2B e-commerce models

Reported figures

From the report. Source details below

69% collapse from $3.2 Bn
revenue ₹4,561 Cr down 20% YoY
operational loss ₹1,055 Cr

Other figures

  • valuation below $1 Bn
  • $200 Mn equity raise
  • $40 Mn credit facility
  • ShareChat $400 Mn IPO

The source

Source Read the source at Inc42 Published

First seen