Swiggy turns majority Indian-owned as foreign stake dips to 49.76%; stock jumps 6%
Swiggy's aggregate foreign shareholding fell below 50% to 49.76%, qualifying it for Indian-Owned and Controlled Company status. The shift could let Instamart directly own inventory, sharpening margins and supply-chain control. Shares rose nearly 6% to a high of Rs 264.
Swiggy's aggregate foreign shareholding fell to 49.76%, making it majority Indian-owned by shareholding. IOCC status could let Instamart directly own inventory, improving margins and supply chain control. Stock rose nearly 6% to Rs 264.