Scootsy Logistics is Swiggy’s wholly-owned subsidiary which is engaged in the supply chain and distribution business
New Delhi: Food and grocery delivery major Swiggy on Friday said it will invest up to Rs 1,000 crore in one or more tranches to expand its wholly-owned subsidiary ‘Scootsy Logistics’ which is engaged in the supply chain and distribution business.
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.
