Swiggy share price tumbles over 7%, nears record low. Here's why

Swiggy shares tumbled over 7% to an intraday low of ₹242.60 after the board proposed capping foreign ownership at 49.5% from 100% to qualify as an Indian Owned and Controlled Company, a move pending shareholder approval at the August 18 AGM. Analysts warn the proposal could trigger Swiggy's removal from global indices, with Nuvama estimating potential passive outflows of around $340 million from the MSCI Standard Index (28 bps weight) and $120 million from the FTSE index (24 bps weight). The stock is now down 41% over the past year and nearing its all-time low of ₹235.80.