Swiggy To Invest INR 1,000 Cr In Subsidiary Scootsy

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SUMMARY

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…



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Swiggy To Invest INR 1,000 Cr In Subsidiary Scootsy


SUMMARY

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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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