Food and grocery delivery giant Swiggy announced on February 21 that it will invest up to Rs. 1,000 crore in its wholly owned subsidiary, Scootsy Logistics, to support business expansion. The investment will be made in one or more tranches through a rights issue, aimed at meeting working capital requirements and funding capital expenditures.
Scootsy Logistics specializes in supply chain services and distribution, offering warehouse management, in-warehouse processing with value-added services, and efficient order fulfillment for wholesalers and retailers.
According to Swiggy’s stock exchange filing, the company’s board has approved the investment to enhance Scootsy’s operational capabilities. Scootsy, incorporated under the Companies Act, 2013, on November 27, 2014, has demonstrated strong growth in recent years, with a turnover of Rs. 5,796 crore in FY24, up from Rs. 3,686 crore in FY23 and Rs. 1,580 crore in FY22.
Swiggy clarified that apart from its shareholding in Scootsy, it has no other financial interest in the company.
