Swiggy caps foreign ownership at 49.5% to win Indian-owned status
Swiggy shareholders approved capping foreign ownership at 49.5% to qualify as an Indian-owned and controlled company (IOCC) under FDI rules, a year after a similar proposal was rejected. Foreign holdings currently sit at 49.76%, just above the new ceiling; IOCC status could let quick-commerce arm Instamart move to an inventory-led model.