Swiggy becomes majority Indian-owned by shareholding as foreign stake falls below 50%; stock jumps 6%

Foreign investment in Swiggy Ltd has fallen below the 50 per cent threshold, with aggregate foreign shareholding declining to 49.76 per cent of the company's paid-up equity capital on a fully diluted basis as of July 6, 2026, according to a regulatory filing made on Tuesday.

The figure, based on data from the designated depository, includes foreign portfolio investment (FPI), foreign direct investment (FDI) and other indirect foreign investment.

In its filing, Swiggy said: "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation of the Company's earlier intimations regarding its endeavour to qualify as an Indian Owned and Controlled Company under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, the Company wishes to inform that as of July 06, 2026, the aggregate foreign investment in Swiggy Ltd, including foreign portfolio investment, foreign direct investment and other indirect foreign investment, stands at approximately 49.76 per cent of the total paid-up equity share capital of the Company on a fully diluted basis."

The development is significant as Swiggy has been seeking to qualify as an Indian Owned and Controlled Company (IOCC) under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019. In May this year, the company's shareholders had failed to approve a proposal to classify Swiggy as an IOCC.

Obtaining IOCC status could allow Swiggy's quick commerce business, Instamart, to directly own inventory under existing regulations, potentially improving operational efficiency, supply chain control and margins.

However, the company clarified, "The aforesaid change in aggregate foreign investment does not, by itself, result in any change to the ownership and control status of the Company under applicable law. The Company will make appropriate disclosures in the event of any material developments in this regard, as required."

On the stock-specific front, Swiggy climbed 5.94 per cent to hit a high of Rs 264 during Tuesday's afternoon trading session.