Quick-commerce and food delivery platform Swiggy has become an Indian-owned company after domestic shareholding crossed the 50 per cent mark, according to a stock exchange filing made on Tuesday.
The Bengaluru-based company has moved a step closer to securing the status of an Indian Owned and Controlled Company (IOCC), as the latest shareholding pattern now qualifies it as an Indian-owned firm under the prescribed norms.
The regulatory filing said that, as of July 6, 2026, total foreign investment in Swiggy—including foreign direct investment (FDI), foreign portfolio investment (FPI) and other indirect foreign investments—stood at around 49.76 per cent of the company's fully diluted paid-up equity share capital.
Consequently, domestic ownership increased to 50.24 per cent, taking Indian shareholding above the majority threshold. The development was welcomed by investors, with Swiggy's shares surging nearly 6 per cent during Tuesday's trading session, reflecting strong market confidence in the company's future prospects.
However, the company clarified that the revised shareholding pattern does not automatically alter its ownership or control status. Swiggy said the change has no impact on its share capital, management structure, business operations, voting rights or any rights attached to its equity shares.
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The development comes just weeks after shareholders voted against a proposal to designate Swiggy as an IOCC. In May, the resolution received 72.36 per cent support but fell short of the mandatory 75 per cent approval required to amend the company's articles of association, a key requirement for obtaining IOCC certification.
Securing IOCC status is strategically important for Swiggy, as it would allow Instamart, the company's quick-commerce business, to directly own inventory instead of relying on third-party arrangements. This would provide greater control over procurement, warehousing and supply-chain operations while also improving operating efficiencies and strengthening unit economics.
Swiggy continued to post strong business growth during FY26. The company reported consolidated operating revenue of Rs 23,053 crore for the financial year, up significantly from Rs 15,227 crore in FY25.
Its financial performance also showed signs of improvement, with the consolidated net loss narrowing to Rs 800 crore in the fourth quarter of FY26, compared with Rs 1,081 crore in the corresponding quarter a year earlier and Rs 1,065 crore in the preceding quarter, indicating steady progress towards improving profitability.
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