swiggy: Swiggy to invest Rs 1,000 crore in wholly-owned arm Scootsy

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Food delivery and quick commerce firm Swiggy is set to invest up to Rs 1,000 crore in its wholly-owned subsidiary, Scootsy, which operates in 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…



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swiggy: Swiggy to invest Rs 1,000 crore in wholly-owned arm Scootsy


Food delivery and quick commerce firm Swiggy is set to invest up to Rs 1,000 crore in its wholly-owned subsidiary, Scootsy, which operates in 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…



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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