Swiggy becomes Indian-owned company after domestic ownership surpasses 50%

Quick-commerce and food delivery firm Swiggy has become an Indian-owned company after domestic ownership surpassed 50 per cent, as per the stock exchange filing on Tuesday.

The Bengaluru-headquartered company is now one step closer to obtaining the status of an Indian owned and controlled company (IOCC), as, with this latest change, it can now qualify as an Indian-owned firm.

The filing states that, as of July 6, 2026, the total amount of foreign investment in Swiggy, including foreign direct investment (FDI), foreign portfolio investment (FPI), and other indirect foreign investment, was around 49.76 per cent of the company’s fully diluted paid-up equity share capital.

As a result, domestic ownership rose to 50.24 per cent.

With this development, the shares of Swiggy jumped about 6 per cent on Tuesday, indicating a robust investor sentiment.

Meanwhile, Swiggy pointed out that the move had no bearing on the company’s ownership or control status, share capital, management, business operations, voting rights, or the rights associated with its equity shares.

In May, a resolution to designate Swiggy as an IOCC was rejected by the company’s shareholders.

The proposed structure received 72.36 per cent shareholder support, but did not receive the 75 per cent approval needed to change the company’s articles of association, which is a crucial step in getting IOCC certification.

For Swiggy, obtaining IOCC status is crucial since it would enable Instamart, its fast commerce division, to directly own inventory.

In addition to offering more control over supply chains, warehousing, and procurement, this would enhance unit economics.

The quick-commerce company generated a consolidated operating revenue of Rs 23,053 crore in FY26, as opposed to Rs 15,227 crore in FY25.

In the fourth quarter of FY26, its net loss decreased to Rs 800 crore from Rs 1,081 crore in the same quarter last year, and Rs 1,065 crore in the previous quarter.