Udaan's Singapore holding company faces insolvency over $170 mn default
IPO-bound B2B ecommerce firm Udaan's Singapore parent entity faces insolvency proceedings after a $170 mn default. The company says Indian operations are unaffected as it seeks $150-200 mn in fresh equity via Goldman Sachs amid a liquidity crunch and withdrawn bank facilities. FY25 net loss stood at Rs 1,055 crore on revenue of Rs 4,561 crore.
IPO-bound B2B ecommerce firm Udaan's Singapore holding entity faces insolvency proceedings after a $170mn default. Udaan says Indian operations are unaffected while it seeks $150-200mn fresh equity via Goldman Sachs amid a liquidity crunch and withdrawn bank facilities.
Why this matters
The insolvency filing follows reports that parent Trustroot was dragged to Singapore's bankruptcy court over a $170M bond default, and comes as Udaan pursued a $50-60M top-up from Lightspeed and M&G at a flat $1.8B valuation.
Retail-company signals are accelerating, up +499900% QoQ.