About Hiveloop Technology Private Limited
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Hiveloop Technology Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Trustroot Internet Private Limited. It operates in the general e-commerce platforms segment of the e-commerce sector. It was incorporated on 03 June 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2016PTC093868. Its GSTIN is 29AADCH8879C1Z5 (Karnataka). The company holds 28 GST registrations, all of them active.
The company has an authorised share capital of ₹10.5 Cr and a paid-up capital of ₹6.62 Cr. It is led by directors including Bannari Jagathish (Whole-Time Director) and Krishna Menon Vishnu Menon.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹284.76 Cr, a decline of 29% compared to the previous year. For the same year it recorded a net loss of ₹657.82 Cr (net margin -231%) and EBITDA of -₹621.95 Cr (EBITDA margin -218.4%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 71% over five years.
The company has about 1,124 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 5 brands: DP Mart, Udaan Express, WholeSher, Udaan and Hiveloop. As per MCA filings, the company has open charges of ₹130 Cr and satisfied charges of ₹1,035.32 Cr on record. Court records list 34 cases involving the company, including 13 filed by the company and 21 filed against it; 12 cases are pending. The company has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 213 overdue payments to 46 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website udaan.com.
Company details
Contact details
Hiveloop Technology Private Limited's registered office is in Bangalore, Karnataka. Its website is udaan.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressTwa – Sjr – The Hub 1st Floor Of South Wing Survey Number 8 2 & 9, Sarjapur Main Road Sarjapur – Marathahalli Road Bellandur, Bangalore, Karnataka, India – 560102
- IndustryE-Commerce, General E-Commerce Platforms
To see the full contact details of Hiveloop Technology Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Hiveloop Technology operates multiple associated brands including DP Mart, Udaan Express, and WholeSher. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Online platform selling electronics, groceries, and household items to consumers. | dpmart.in | |
| Provides a web-based platform for door-to-door delivery services. | udaanexpress.com | |
| An online retail platform offering products in various categories. | wholesher.in | |
| Online marketplace offering multi-category products | udaan.com | |
| Platform offering business loan solutions | hiveloopcapital.com |
Business activity
The main business activities of Hiveloop Technology are transport and storage and information and communication. In detail, this covers land transport via road and other information & communication service activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H1 | Land Transport via Road | |
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Hiveloop Technology Private Limited, buy the company report.
Financials of Hiveloop Technology Private Limited
FY 2024 filings availableHiveloop Technology Private Limited reported revenue of ₹284.76 Cr (down 29% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 29% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 71%. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹284.76 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹621.95 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹657.82 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -218.4% | ||||
| Net Profit Margin | -231% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Hiveloop Technology Private Limited, buy the company report.
Board of directors of Hiveloop Technology Private Limited
Hiveloop Technology has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Krishna Menon Vishnu Menon Also directs: Hiveloop E-Commerce Private Limited, Newloop Apps Private Limited | Director | 14 Oct 2022 | 4 Years 0 Months | Current |
| Ankit Gupta Also directs: Newloop Apps Private Limited, Digitrail Technology Private Limited, Singhal Retail Solutions Private Limited and 1 more | Director | 30 Sep 2024 | 2 Years 1 Months | Current |
| Bannari Jagathish | Whole-Time Director | 05 Aug 2025 | 1 Years 3 Months | Current |
Auditor
Hiveloop Technology Private Limited is audited by S R BATLIBIO & ASSOCIATES LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R BATLIBIO & ASSOCIATES LLP | FY 2024 | 101049W |
Shareholding
The shareholding of Hiveloop Technology Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Hiveloop Technology Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Sep 2021 | 100481285 | Others | ₹40 Cr | Open | |
| 10 Aug 2020 | 100369921 | Others | ₹25 Cr | Open | |
| 25 Feb 2020 | 100332256 | Others | ₹25 Cr | Open | |
| 09 May 2019 | 100265101 | Tata Capital Financial Services Limited | ₹40 Cr | Open | |
| 08 Jan 2025 | 101065694 | Others | ₹17 Cr | Satisfied |
To see the full charge records of Hiveloop Technology Private Limited, buy the company report.
Total charge records: 23 View all charges
Deals & funding
Hiveloop Technology Private Limited has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026.
Deals on record (5 of 30)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2026 | Funding round | ₹1,537.76 Cr | Investors: Others Undisclosed Investors |
| Jul 2024 | Debt financing | ₹60.02 Cr | Investors: Lighthouse Canton, Stride Ventures |
| Apr 2024 | Debt financing | ₹100 Cr | Investors: Trifecta Capital, Stride Ventures |
| Feb 2024 | Rights issue | ₹132.58 Cr | Investors: Trustroot Internet Pte Limited |
| Nov 2021 | Debt financing | ₹50 Cr | Investors: VBG Realty LLP, Blacksoil Group, Corsa Ventures LLP |
To see the full deal history of Hiveloop Technology Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Hiveloop Technology Private Limited has 34 court cases on record: 13 filed by Hiveloop Technology, 21 filed against it. 12 cases are pending and 22 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 19 | 15 | 6 |
| High courts | 14 | 6 | 6 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 34)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Interim or miscellaneous application | Filed against the company by Hello Verify India Private Limited | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Integrity Verification Services Pvt. Ltd. | Pending |
| High Court, West Bengal | Civil suit | Filed against the company by Biswanath Hosiery Mills Limited and Anr M/S. P.Basu and Co. | Pending |
| High Court | Interim or miscellaneous application | Filed by the company against M/S. Clomoso Technologies Private Limited | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed against the company by Hiveloop Logistics Private Limited | Disposed |
To see the full case history of Hiveloop Technology Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Hiveloop Technology Private Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 213 overdue payments to 46 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 46)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Bluejay Worktech Private Limited | |||
| Baldor Technologies Private Limited | |||
| Stackbox Services Private Limited | |||
| an individual supplier | |||
| Avon Solutions & Logistics Private Limited |
To see the full MSME payment records of Hiveloop Technology Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Hiveloop Technology has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Hiveloop Capital Private Limited | U67100KA2016PTC098355 |
To see the full group structure of Hiveloop Technology Private Limited, buy the company report.
Employees & EPFO
Hiveloop Technology Private Limited has a workforce of 1,124 employees on its EPFO records as of Nov 18, 2024, across 1 active EPFO establishment.
GST
Hiveloop Technology has 28 GST registrations: 28 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AADCH8879C1Z5 | Karnataka | Active | 01 Jul 2017 |
| 29AADCH8879C1CG | Karnataka | Active | 07 Oct 2020 |
| 29AADCH8879C2Z4 | Karnataka | Active | 14 Feb 2024 |
| 18AADCH8879C1Z8 | Assam | Active | 30 May 2018 |
To see the full GST registrations and return filing status of Hiveloop Technology Private Limited, buy the company report.
Recent activity
Hiveloop Technology Private Limited has 12 board changes on record since 2019: 3 appointments and 9 cessations. The latest: Bannari Jagathish was appointed as Whole-Time Director on 05 Aug 2025.
50 earlier events are in the company report.
News
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Frequently asked questions
Hiveloop Technology is an active private limited company based in Bangalore, Karnataka, India. The company works in general e-commerce platforms, within the e-commerce industry. It was incorporated on 03 June 2016 (10+ years old) and is registered under CIN U72900KA2016PTC093868.
Hiveloop Technology has 3 current directors:
- Bannari Jagathish - Whole-Time Director
- Krishna Menon Vishnu Menon - Director
- Ankit Gupta - Director
The latest financial statements of Hiveloop Technology on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Hiveloop Technology is 29AADCH8879C1Z5, registered in Karnataka. The company has 28 GST registrations in all, of which 28 are active. Other active GSTINs include 29AADCH8879C1CG (Karnataka), 29AADCH8879C2Z4 (Karnataka), 18AADCH8879C1Z8 (Assam).
The CIN (Corporate Identification Number) of Hiveloop Technology is U72900KA2016PTC093868. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hiveloop Technology has 34 court cases on record: 13 filed by the company and 21 filed against it. 12 are pending. Most are in the district courts.
Hiveloop Technology was incorporated on 03 June 2016, making it 10+ years old. It is registered with the Registrar of Companies, Bangalore.
Hiveloop Technology has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026.
Bannari Jagathish was appointed as Whole-Time Director on 05 Aug 2025. Ankit Gupta was appointed as Director on 30 Sep 2024. Lakshmi Rajagopalan ceased to be Additional Director on 07 Sep 2023. Hiveloop Technology has 12 board changes on record in total.
Hiveloop Technology has 12 MSME Form 1 returns on record between 2019 and 2024, listing 213 overdue payments to 46 micro and small suppliers. The latest return was filed on 29 Apr 2024.
Hiveloop Technology can be reached through the website udaan.com. Its registered office is in Bangalore, Karnataka, India.
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