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The IPO of Udaan has been Delayed as the Company Raises $120 Million Through Convertible Notes

Amid the startup funding crunch, Udaan raises $120 million and plans to launch its IPO after a year. Check out this story.<br>

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The IPO of Udaan has been Delayed as the Company Raises $120 Million Through Convertible Notes

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  1. The IPO of Udaan has been Delayed as the Company Raises $120 Million Through Convertible Notes Amid a funding crunch for startups, Udaan has raised $120 million in convertible notes and loans from shareholders and bondholders, according to India’s largest business-to- business e-commerce firm. According to an internal corporate document, financing for Udaan, which intends an IPO in the next 12 to 18 months, has exceeded $350 million in the last four quarters, making it one of the largest structured instruments fundraises in the nation. On October 12, ET was the first to announce that Udaan was in the advanced stages of negotiations to close a new round of debt financing using convertible notes for $150–200 million. The company plans to go public in the next 12 to 18 months, indicating a postponement of its initial public offering (IPO).

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