Food delivery and quick commerce firm rel=”dofollow” href=”https://economictimes.indiatimes.com/swiggy-ltd/stocks/companyid-2232501.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Swiggy is set to invest up to Rs 1,000 crore in its wholly-owned subsidiary, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/scootsy” target=”_blank”>Scootsy, which operates in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/supply-chain” target=”_blank”>supply chain services and distribution.
According to the firm, its board of directors approved the investment on Friday, which will be carried out in one or more tranches, by way of subscription to rights issue.
“This investment is for working capital and other capital expenditures as part of the company’s business expansion,” it said in an exchange filing.
The investment will be made through a cash…
