Shares of Swiggy surged as much as 5.5% during the intraday trading on the BSE today after the foodtech major said that the aggregate foreign investment in the company has fallen below the 50% mark.

In an exchange filing, Swiggy said aggregate foreign investment, including foreign portfolio investment (FPI), foreign direct investment (FDI) and other indirect foreign holdings, stood at 49.76% of its paid-up equity share capital on a fully diluted basis as of July 6, 2026, based on depository data.

Following the announcement, the company’s shares, which were trading in the green, jumped further to reach an intraday high of ₹264 on the BSE. At 14:23 IST, the stock was trading 5.2% higher at ₹262.30.

Notably, the company has been looking to become an Indian-owned and controlled company (IOCC). The designation would allow its quick commerce arm, Instamart, to own inventory directly, giving the company greater control over its supply chain and potentially improving margins.

However, the company’s shareholders, in May, rejected a special resolution to amend its Articles of Association (AoA), a key step towards securing IOCC status. The proposal received 72.36% of votes, falling short of the 75% approval required for a special resolution.

Under current Foreign Exchange Management Act (FEMA) rules, a company can qualify as an IOCC only if both ownership and control rest with resident Indian citizens or eligible Indian entities.

However, foreign ownership falling below 50% temporarily alone won’t alter Swiggy’s ownership or control status. The company will need to get shareholders’ approval to cap foreign shareholding.

(The story will be updated soon)

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