Swiggy sets 49.5% foreign ownership cap, approves AoA and MoA amendments
SWIGGY · price
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Swiggy's board on July 23, 2026 approved a 49.50% cap on aggregate foreign ownership (FPIs, NRIs, foreign-owned entities) on a fully diluted basis, as part of efforts to qualify as an Indian Owned and Controlled Company (IOCC). The board also approved amending the Articles of Association to delete certain individual and institutional nomination rights and revise rights for specified resident individuals, and reclassified authorised preference share capital into equity share capital without changing total authorised capital. The 13th AGM is scheduled for August 18, 2026 at 3:00 PM via video conferencing.
Foreign ownership cap and IOCC classification could open eligibility for sectors with FDI limits. AGM on Aug 18; shareholder approvals pending.