Swiggy Limited has informed the Exchange regarding the clarification on Postal Ballot

Swiggy has clarified its rationale for the proposed amendment to Articles of Association, which was put to shareholders via Postal Ballot. The company is seeking to become an Indian Owned and Controlled Company (IOCC) under FEMA regulations as domestic shareholding grows beyond 50%. Since Swiggy lacks a traditional promoter group with substantial stake or board representation, the amendment aims to establish a governance framework that ensures domestic control through board composition and nomination rights. The changes would support management continuity and strategic execution while meeting regulatory requirements. Institutional investors had queried the board nomination framework and its relevance to the IOCC objective. Final IOCC classification still requires shareholder approval and other corporate actions.