Swiggy Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
SWIGGY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Swiggy's board has approved amendments to its Articles of Association, which will be sent to shareholders for approval via a postal ballot (Special Resolution). The key change is the removal of board nomination rights held by early investor Accel and Japan's SoftBank, which are being deleted entirely. In their place, co-founder and CEO Sriharsha Majety will get the right to nominate himself and one senior management member to the board. Co-founder Lakshmi Nandan Reddy Obul's existing nomination right is being replaced by Phani Kishan Addepalli's right to nominate himself. The changes also tighten the conditions under which nomination rights can be used and clarify that no person can nominate more than one director at a time.
This is a governance restructuring that shifts board nomination power away from venture capital investors (Accel, SoftBank) and toward the co-founders and senior management. For retail investors, it signals tighter founder/management control over the board post-IPO, which could mean more strategic consistency but also less investor oversight.