Swiggy Board Caps Foreign Ownership at 49.5% to Qualify as Indian-Owned-and-Controlled Firm

Summary

Swiggy's board has approved capping its aggregate foreign ownership at 49.5% to qualify as an Indian-owned-and-controlled company (IOCC), a move that will be put to shareholders for approval at the upcoming AGM on August 18. This status would allow Swiggy to directly own and sell inventory through Instamart, potentially improving margins and supply chain control.