Swiggy moves to cap foreign ownership at 49.5% to unlock Instamart inventory control
Swiggy’s board has approved Articles of Association changes and a 49.5% aggregate foreign-ownership cap to pursue Indian-owned-and-controlled status. Subject to shareholder approval at its August 18 AGM, the move could allow Instamart to directly own and sell inventory, strengthening margin and supply-chain control.
Swiggy’s board approved a 49.5% foreign-ownership cap and AoA changes to seek Indian-owned-and-controlled status. IOCC status could let Instamart directly own and sell inventory, improving margins and supply-chain control; shareholder approval is pending.
Why this matters
The decision advances Swiggy's earlier 49.5% cap proposals to make Instamart inventory-led and qualify as Indian-owned, while extending the retail strategy signaled by its July 2023 LYNK acquisition.
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