Swiggy To Invest INR 1,000 Cr In Subsidiary Scootsy

Swiggy’s board has approved the investment in its wholly owned subsidiary by subscribing to a rights issue in one or more tranches

It is making the investment to provide cash for working capital requirements of Scootsy along with other capital expenditures as part of Swiggy’s business expansion

Scootsy’s revenue for the fiscal year 2023-24 (FY24) stood at INR 5,795.7 Cr, up 57% from the INR 3,686.2 Cr in FY23

Foodtech major Swiggy plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt…