Swiggy to Invest $120M in Scootsy for Expansion

24 Feb 2025 CW Team

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches.

Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers.

"We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly owned subsidiary of the company ('Scootsy'), up to an amount not exceeding Rs 1,000 crore in one or more tranches by way of subscription to a rights issue. The investment will be utilised for working capital and other capital expenditures as part of the company's business expansion," Swiggy said in a stock exchange filing.

Despite the capital infusion, Scootsy will remain a wholly owned subsidiary of Swiggy, with no change in shareholding. The investment, categorized as a related party transaction, is at arm’s length, the company confirmed.

Scootsy reported a strong revenue growth over the past three financial years, reflecting its expanding operations.

Meanwhile, Swiggy posted a widening net loss of $96 million in Q3FY25, compared to $69 million in the same period last year, attributing the decline to increased capital expenditure on warehousing and dark store infrastructure. The company’s revenue surged 31% YoY to $480 million in Q3FY25.

Swiggy, which debuted on the stock market in November 2024, has projected positive adjusted EBITDA by Q3FY26 as it continues its expansion.

Image Source: Generated by ChatGPT

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..