Swiggy's Rs 1,000 Crore Investment in Subsidiary Scootsy Logistics

Delivery giant Swiggy will invest up to Rs 1,000 crore in its subsidiary, Scootsy Logistics, to enhance its supply chain and distribution capabilities. The capital will be used for working capital and business expansion. This substantial investment underscores Swiggy's growth ambitions in the distribution sector.

Food and grocery delivery giant Swiggy announced a significant financial commitment on Friday, revealing plans to invest up to Rs 1,000 crore in its subsidiary, Scootsy Logistics.

According to a regulatory filing, Swiggy will channel this investment through equity shares in Scootsy Private Limited, its wholly-owned supply chain and distribution subsidiary, via a rights issue up to Rs 1,000 crore.

The funds are earmarked for working capital and capital expenditures aimed at expanding Scootsy's operations, reflecting Swiggy's strategic focus on strengthening its distribution network.

(With inputs from agencies.)