Swiggy Becomes Indian-Owned as Domestic Shareholding Crosses 50%

Swiggy has officially become an Indian-owned company after domestic shareholding crossed the 50 per cent mark, following a reduction in stakes held by foreign investors. The milestone, disclosed in a stock exchange filing marks a key step in the food delivery and quick commerce company's ownership transition, although it has not yet attained Indian-owned and controlled company (IOCC) status.

According to the filing, foreign investment including foreign direct investment (FDI), foreign portfolio investment (FPI) and other indirect overseas holdings stood at 49.76 per cent of Swiggy's fully diluted paid-up equity share capital as of July 6, 2026. Domestic investors now collectively own 50.24 per cent of the company.

The company clarified that crossing the 50 per cent domestic ownership threshold does not automatically alter its ownership or control classification. It also has no impact on Swiggy's management, voting rights, share capital, business operations or shareholder rights.

Swiggy is still awaiting recognition as an Indian-owned and controlled company, a designation that requires additional regulatory and governance criteria to be met. Achieving IOCC status would enable its quick commerce business, Instamart, to adopt an inventory-led operating model, allowing direct ownership of inventory and improving efficiencies across procurement, warehousing and supply chain management.

The development follows a setback in May, when shareholders failed to approve amendments to the company's Articles of Association required for IOCC classification. Although 72.36 per cent of shareholders backed the proposal, it fell short of the 75 per cent approval needed to pass the resolution. Swiggy shares closed at ₹266.15 on Tuesday, gaining 6.8 per cent after the announcement.

Meanwhile, Swiggy has expanded its Food on Train service to 180 cities across India, reporting a threefold year-on-year increase in orders during Q1 2026 as summer travel boosted demand. The platform also introduced a 'Scan Your Ticket' feature, allowing passengers to upload their train ticket for automatic PNR detection and seamless food ordering.

The service saw a 300 percent rise in multi-station orders, with passengers ordering meals at two or more stops on a single journey spending 2.2 times more than single-stop customers. The Bhopal–Nagpur route emerged as the most popular multi-stop corridor, with over 1,300 passengers placing orders at both stations. Swiggy also added 17 new railway stations, including Gurugram, Udaipur, Bikaner, Davanagere, Kayamkulam, Nanded, Amravati, Shoranur, Arrah, Tadpatri and Nizamabad. Many travellers placed orders up to four days before departure, while stations such as Guna saw 66 percent of orders from first-time Swiggy users.