Swiggy Jumps 5.5% as Foreign Holding Slips Below 50%, Nearing Indian-Owned Status
Swiggy shares rose up to 5.5% to an intraday high of ₹264 after aggregate foreign investment fell to 49.76%. Crossing below 50% moves the company toward Indian-owned status, which would let Instamart hold inventory directly and lift margins. Shareholder approval to cap foreign holding is still pending, with 72.36% votes cast against the 75% required.
Swiggy shares jumped up to 5.5% after aggregate foreign investment fell to 49.76%, a step toward Indian-owned status that would let Instamart hold inventory directly and improve margins, though shareholder approval to cap foreign holding is still needed.
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