Swiggy Ltd shares are in focus on Monday after the company announced a ₹1,000 crore investment plan for the expansion of its subsidiary Scootsy.
At 10:40 am IST, Swiggy shares were down 1.25% on the Bombay Stock Exchange (BSE), trading at ₹356.20. This was a drop of ₹4.50 from the previous close.
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Meanwhile, the broader market had experienced a crash at the same time. The benchmark BSE Sensex was down by 772.77 points or 1.03%, reaching 74,538.29, while the NSE Nifty was down by 234.10 points or 1.03%, reaching 22,561.80.
The company made the investment announcement after it conducted a board meeting on Friday.
Scootsy Logistics Private Limited is a fully owned subsidiary of Swiggy and the investment would be done by way of subscription to rights issue, according to its exchange filing.
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The investment amount would be used for working capital needs as well as other capital expenditures required for the company's business expansion.
{{/usCountry}}The investment amount would be used for working capital needs as well as other capital expenditures required for the company's business expansion.
{{/usCountry}}Scootsy calls itself a “quick, curated one-stop pan-city delivery platform.” It provides supply chain services and distribution, including that of warehouse management. It also has delivery services for food, groceries, stationery, clothes, and even offers parcel delivery services.
Swiggy got listed on the exchanges in November 2024. Since then, its shares have fallen 33.62% in 2025 so far.
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Scootsy meanwhile, was founded in November 2014 and had a turnover of ₹5,195.7 crore for the financial year which ended on March 31, 2024, according to an Economic Times report which added that the acquisition cost will be ₹7,640 per share.