Swiggy Nears Indian-Owned Status as Foreign Holding Slips to 49.76%
Swiggy's foreign investment fell to ~49.76% as of July 6, edging it toward Indian Owned and Controlled Company (IOCC) status. Crossing the sub-50% threshold could ease e-commerce inventory restrictions and unlock new business models. Shares rallied over 5% on the development.
Swiggy's foreign investment fell to ~49.76% as of July 6, moving it closer to Indian Owned and Controlled Company (IOCC) status, which could ease e-commerce inventory restrictions. Shares rallied over 5%.