Swiggy Caps Foreign Ownership At 49.5% To Become Indian-Owned, Controlled Company

by · Inc42

SUMMARY

  • Swiggy has proposed capping foreign ownership at 49.5% and amending its AoA to qualify as an Indian-owned and controlled company (IOCC), paving the way for Instamart's shift to an inventory-led model
  • The IOCC status would allow Swiggy to directly own and sell inventory through Instamart, improving margins, strengthening supply chain control and better positioning it against Blinkit's inventory-led model
  • Alongside the foreign ownership cap, Swiggy's board has also approved AoA changes to align with FEMA norms and proposed reclassifying its authorised preference share capital into equity share capital, subject to shareholder approval