Udaan is preparing to sign a recapitalization agreement this week, a move designed to strengthen its balance sheet and support its long-standing ambitions for an initial public offering.
The deal comes as the B2B e-commerce platform seeks to address a legacy of heavy losses accumulated during its aggressive expansion across India.
Since its inception, Udaan is estimated to have incurred losses of approximately ₹13,000 crore.
These deficits were driven by substantial investments in building its nationwide logistics and technology infrastructure.
The upcoming recapitalization is viewed by stakeholders as a critical step to stabilize the company’s financial position before it approaches public markets.
The restructuring effort reflects a broader shift among Indian tech unicorns, which are increasingly prioritizing balance sheet health and profitability over rapid, cash-burning growth.