Swiggy shares jump 7% as foreign ownership falls below 50%. What this means quick commerce giant?

Swiggy shares surged over 7% to around Rs 266 after its foreign ownership fell below 50%, at approximately 49.76% of paid-up equity as of July 6. This development could pave the way for Swiggy to secure Indian-Owned and Controlled Company (IOCC) status, which would allow its quick commerce arm Instamart to own inventory directly, improving margins. Swiggy had failed to get shareholders to approve IOCC classification in May, and the current shareholding shift may help revive that effort. The stock remains down about 32% year-to-date in 2026, with a market cap of around Rs 73,455 crore.