(Reuters) -Indian food and grocery delivery firm Swiggy said on Friday it will invest up to 10 billion rupees ($115.47 million) in its supply chain subsidiary, amid an ongoing expansion of its fast-growing quick-commerce arm Instamart.

Swiggy's board has approved an investment of up to Rs 1,000 crore in its wholly owned subsidiary, Scootsy Logistics, through a rights issue. The investment will be made in multiple tranches and is aimed at strengthening working capital and funding expansion initiatives.

Foodtech major Swiggy plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt Ltd. In an exchange filing, the company said that its board approved the investment by subscribing to a rights issue in one or more tranches. The transaction will value one share of the subsidiary at INR 7,640.

Indian food and grocery delivery firm Swiggy said on Friday it will invest up to 10 billion rupees ($115.47 million) in Scootsy, a subsidiary engaged in supply chain services and distribution.

Swiggy announced a Rs 1,000 crore investment in its supply chain subsidiary, Scootsy, following a Rs 1,600 crore infusion in December, reinforcing its push into logistics.

Food and grocery delivery firm Swiggy said on February 21 that it will invest up to Rs 1,000 crore in Scootsy Logistics in one or more tranches.

Swiggy announced an investment of up to 10 billion rupees in its supply chain subsidiary Scootsy to boost its quick-commerce arm Instamart. This move follows a 16 billion rupee investment last December,