Swiggy announces majority Indian ownership for the 1st time
Business
Swiggy just announced that over half of its ownership is now in Indian hands, with foreign investors holding less than 50% for the first time.
This shift marks a big milestone for the food delivery giant, reflecting a stronger homegrown presence.
Swiggy may reapply for IOCC
With more Indian ownership, Swiggy can push again for IOCC (Indian-owned and controlled company) status, a move that didn't work out in May.
If they get it, Instamart could directly own inventory, making operations smoother and potentially boosting profits.
For now, Swiggy says this ownership update doesn't instantly change its control status but promises to keep everyone posted on big developments.