Swiggy’s share price is set to be in focus on Monday, February 24, 2025, following its announcement of a significant investment in Scootsy Logistics Pvt Ltd.
On Friday, Swiggy revealed plans to invest up to ₹1,000 crore in one or more tranches to strengthen its wholly-owned subsidiary, Scootsy Logistics, through a rights issue.
"The Board of Directors, in its meeting held on February 21, 2025, approved an investment of up to ₹1,000 crore in Scootsy Logistics Private Limited through a rights issue. This investment will support working capital and other capital expenditures as part of the company’s business expansion," Swiggy stated in a regulatory filing.
The acquisition price per share is ₹7,640, including a premium of ₹7,630 per share or as determined based on valuation, the company added.
Scootsy Logistics specializes in supply chain services and distribution, offering warehouse management, in-warehouse processing with value-added services, and streamlined order fulfillment for wholesalers and retailers.
The investment, made through cash consideration, aims to enhance working capital and expand operational capabilities.
For the financial year ending March 31, 2024, Scootsy reported a turnover of ₹5,195.7 crore.
Anamika Mishra,
Sub Editor
