Swiggy Moves Closer to IOCC Status as Domestic Shareholding Crosses 50%

Swiggy has crossed the 50% domestic ownership mark after its foreign shareholding dropped to 49.76%, taking the company closer to becoming an Indian Owned and Controlled Company (IOCC). However, it clarified that the change does not automatically alter its ownership or control status. The milestone could provide greater flexibility for Instamart under foreign investment rules as Swiggy continues its IOCC transition.