Swiggy To Foray Into Sports & Amusement Business.

Swiggy is setting up a new wholly owned subsidiary which will operate in the “sports activities and amusement and recreation activities" segment.

Swiggy also said that its board approved an investment of up to INR 1,600 Cr in one or more tranches in its wholly owned subsidiary Scootsy Logistics.

Out of the total investment, INR 1,350 Cr will be allocated from Swiggy’s IPO proceeds to fuel the growth and expansion of Instamart.

Credit: inc42.com