Swiggy Shareholders Approve Indian-Owned and Controlled Status

Swiggy shareholders have officially voted to restructure the company's ownership to meet the 'Indian-Owned and Controlled Company' (IOCC) criteria, a move essential for its upcoming public listing.

The resolution caps foreign ownership at 49.5%, ensuring the firm complies with India's strict FDI norms for multi-brand retail and food delivery platforms operating in the country.

This strategic shift allows Swiggy to bypass certain foreign investment restrictions, clearing a major regulatory hurdle as the company prepares for its highly anticipated IPO later this year.