Swiggy Invests Rs 1,000 Cr in Scootsy Logistics Expansion
In a regulatory filing, Swiggy informed about the "Investment by the Company in the equity shares of Scootsy Logistics Private Limited, the wholly owned subsidiary of the Company ("Scootsy"), up to an amount not exceeding Rs 1,000 crore in one or more tranches, by way of subscription to rights issue up to Rs 1,000 crore".
The investment is towards working capital and other capital expenditures as part of the company's business expansion.
Scootsy is currently engaged in the business of supply chain services and distribution.
You May Like To Read
MORE NEWS
Indian fruit exports have increased by 47.5% in the last five years, driven by free...
INOX Air Products commissions its first green hydrogen plant at Asahi India Glass...
Sebi has extended the deadline for regulated entities to adopt a cybersecurity...
Sebi postpones penalties for breaching intra-day position limits for index derivatives,...
Nayara Energy, India's largest private fuel retailer, has appointed Deepesh Baxi as its...
Get the latest bullion rates for gold and silver in India. Check today's prices for...
Federal Bank has signed an agreement to acquire an additional 4% stake in Ageas Federal...
India imported gold from 48 countries in 2023-24. Learn about import duties, FTA...
India's proposed free trade agreement with the UK is expected to significantly boost...
Indian stock markets surged over 5% in FY25, boosting investor wealth by Rs 25.90 lakh...