Udaan secures NCLT approval for corporate restructuring, eyes IPO by 2026
New Delhi: Udaan, India’s leading business-to-business (B2B) e-commerce platform, has received approval from the National Company Law Tribunal (NCLT) for its corporate restructuring plan, media reports said.
The restructuring consolidates Udaan’s operations under a single entity, Hiveloop Ecommerce Pvt Ltd, enhancing operational efficiency and flexibility, reported Business Standard.
According to individuals familiar with the matter, this move is a significant step towards facilitating financing options, including the prospect of launching an initial public offering (IPO) in India by 2026.
“The company is preparing for an IPO by the end of 2025 or early next year,” revealed a source, the report said.
By unifying its various business entities, Udaan aims to strengthen its operational model.
The integrated structure will streamline processes, create efficiencies, and align core capabilities, such as its advanced technology platform, wholesale trading, extensive distribution network, and logistics services.
Udaan operates in a highly competitive B2B e-commerce market, alongside players like Amazon, Flipkart, and Reliance’s JioMart.
The sector is projected to exceed $125 billion in sales by 2027, with a compound annual growth rate of 45 percent, according to an Avendus Capital report.
With a total funding of $1.88 billion from investors including M&G Plc, Lightspeed Venture Partners, and DST Global, Udaan currently holds a valuation of approximately $1.8 billion, as per Tracxn data.
The restructuring process will be implemented in the coming months in line with regulatory directives.
Additionally, Udaan plans to integrate its non-banking financial company (NBFC) operations into the new structure, further solidifying its position as a one-stop solution for India’s kirana ecosystem.
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