Scoobee Day Garments Stitches Up Growth: Approves ₹500 Million Fund Raise

Scoobee Day Garments (India) Limited has taken a significant step towards fueling its expansion plans by approving a fund raise of up to ₹500 million. The decision was made during a board meeting held on March 27, 2025, which was previously announced to consider fundraising options. This move comes as the company seeks to capitalize on the growing demand in the Indian garment industry and strengthen its market position. The funds are expected to be raised through a rights issue, allowing existing shareholders to participate in the company's growth story. This strategic financial maneuver follows Scoobee's recent participation in a $12.3 million funding round for Dunzo, marking its first direct investment in an Indian startup. The company's proactive approach to fundraising and investments signals its commitment to long-term growth and innovation in the competitive garment sector.

 

Source: Company Announcement, March 27, 2025