+
Swiggy to Invest $120M in Scootsy for Expansion
ECONOMY & POLICY

Swiggy to Invest $120M in Scootsy for Expansion

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

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

Next Story
Infrastructure Urban

Hindmetal Pioneers EM Tech in Mineral Exploration

Hindmetal Exploration Services (HESPL), a wholly owned subsidiary of Hindustan Zinc, has become the first company in India to deploy advanced Electromagnetic (EM) technologies for mineral exploration. The initiative marks a major leap in the nation’s ability to identify hidden mineral resources with unprecedented precision.The breakthrough involves two cutting-edge tools: borehole EM, which detects and maps conductive ore bodies such as sulfide deposits in high detail, and SQUID surface sensors, which capture even the weakest electromagnetic signals—ideal for spotting low-conductivity or d..

Next Story
Infrastructure Urban

Autodesk Launches Local Data Storage for India

Autodesk has announced the launch of localized data storage in India, enabling businesses and public sector organizations to store and manage project data within the country. This expansion, part of Autodesk’s global regional offerings, supports regulated sectors such as government, infrastructure, and utilities by meeting compliance requirements while ensuring enterprise-grade security, privacy, and data recoverability.The move comes as Autodesk’s 2025 State of Design & Make report reveals that while digital transformation drives significant ROI in the architecture, engineering, const..

Next Story
Infrastructure Urban

Rosatom Opens Pilot Uranium Facility at Tanzania’s Mkuju River Project

Mantra Tanzania, a subsidiary of Uranium One Group (part of Rosatom), has commissioned a pilot uranium processing facility at the Mkuju River project in southern Tanzania. The inauguration, attended by Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania, alongside senior government officials, community leaders, and Rosatom representatives, marks a major step forward in Russia–Tanzania nuclear energy cooperation.Alexey Likhachev, Director General of Rosatom, said: “Rosatom offers its cutting-edge uranium processing technologies to unlock Tanzania’s geological ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?