Swiggy’s Inventory Pivot Plan Stalls After Failed Vote

by · Inc42

SUMMARY

  • In a filing with the exchanges, the foodtech major said that it received 72.36% of the votes in favour of the amendment, falling short of the 75% threshold by 2.65%
  • This follows the company last month issuing a postal ballot notice, seeking shareholder approval for amendments to its AoAs and rejig its board nomination framework
  • The foodtech major was looking to amend its AoAs to clinch the IOCC tag, which would enable its quick commerce vertical Instamart transition to an “inventory ownership” model