Swiggy, one of India’s leading online food ordering and delivery platforms, has announced a significant investment of up to ₹1,000 crore in its wholly-owned subsidiary, Scootsy Logistics Private Limited . The investment, approved by Swiggy’s Board of Directors at a meeting held today, will be made in one or more tranches through a rights issue.
The funds will be used to bolster Scootsy’s working capital and support other capital expenditures related to the company’s ongoing business expansion. Scootsy is primarily involved in supply chain services and distribution, offering warehouse management, in-warehouse processing, and efficient order fulfillment to wholesalers and retailers.
Swiggy stated that this transaction falls under related party transactions but is being conducted at arm’s length. The investment will not alter Swiggy’s shareholding in Scootsy, which will remain a wholly-owned subsidiary.
Scootsy has experienced substantial growth in recent years, with its turnover increasing from ₹15,803 million in FY22 to ₹57,957 million in FY24. The company was incorporated on November 27, 2014.
Swiggy’s substantial investment in Scootsy Logistics highlights the company’s commitment to strengthening its supply chain capabilities and expanding its business operations. The funding is expected to fuel Scootsy’s continued growth in the logistics sector, contributing to Swiggy’s overall ecosystem.
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Published on: February 23, 2025 at 10.02PM GMT.
Indian Railways Cancels Trains Amid Mahakumbh Rush:
In light of the Mahakumbh Amrit Snan at Prayagraj, Indian Railways has announced the cancellation of 32 trains between February 25 and 28, 2025. The affected trains include the Purushottam Express and Nandan Kanan Express. Passengers are advised to check the latest schedules and make alternative travel arrangements.
As stated in Bhagavad Gita : (Bhagavad Gita 10.10)
अनन्याश्चिन्तयन्तो मां ये जनाः पर्युपासते।
To those who are constantly devoted and who worship Me with love, I give the understanding by which they can come to Me.
25th February is celebrated as Pradosh Vrat!
