Swiggy shareholders back 49.5% foreign cap; $400M passive outflows risk
Swiggy is moving toward IOCC status as shareholders approve proposals that cap foreign shareholding at 49.5%. With foreign ownership near the cap, Jefferies expects Swiggy could be excluded from MSCI and FTSE indices, triggering passive outflows of more than $400 million. The change also supports Instamart’s inventory-led model.