Funding
swiggy: Swiggy to invest Rs 1,000 crore in wholly-owned arm Scootsy
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Food delivery and quick commerce firm Swiggy is set to invest up to Rs 1,000 crore in its wholly-owned subsidiary, Scootsy, which operates in supply chain services and distribution.
According to the firm, its board of directors approved the investment on Friday, which will be carried out in one or more tranches, by way of subscription to rights issue.
“This investment is for working capital and other capital expenditures as part of the company’s business expansion,” it said in an exchange filing.
The investment will be made through a cash…
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