Swiggy to invest Rs 1,000 crore in supply chain arm

Food delivery giant Swiggy on Friday announced a Rs 1,000 crore investment in its supply chain subsidiary, Scootsy, following board approval.This comes after a Rs1,600 crore infusion into Scootsy in December, underscoring Swiggy’s aggressive push into supply chain and logistics.

In a stock exchange filing, Swiggy stated that the investment will be executed via a rights issue in one or more tranches, valuing each Scootsy share at Rs 7,640.