Udaan Lines Up $160 Mn Financing Round To Strengthen Balance Sheet

by · Inc42

SUMMARY

  • Udaan has announced a proposed $160 Mn financing transaction comprising fresh equity, new debt and debt-to-equity conversion
  • The fundraise comes weeks after creditors initiated insolvency proceedings against Udaan's Singapore-based parent over defaulted convertible notes, making the transaction key to its debt restructuring and public market plans
  • The transaction includes fresh capital from existing investors and a new investor, a $45 Mn private credit commitment, and conversion of a portion of outstanding convertible bonds into equity