Swiggy Jumps 5.5% as Foreign Holding Drops Below 50%, Boosting IOCC Bid
Swiggy shares rose up to 5.5% to ₹264 after aggregate foreign investment fell to 49.76%, below the 50% threshold. Crossing under aids its push for Indian-Owned-and-Controlled-Company status, which would let Instamart directly own inventory. Shareholder approval to cap foreign holding still pending, with 72.36% votes vs 75% required.
Swiggy shares jumped up to 5.5% after aggregate foreign investment fell below 50% to 49.76%, aiding its bid for IOCC status, which would let Instamart directly own inventory. Shareholder approval to cap foreign holding is still needed.