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Shareholders Back Move for Indian-Owned Status","url":"https://stock-news.laohu8.com/highlight/detail?id=2660937554","media":"Reuters","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2660937554?lang=en_us&edition=fundamental","pubTime":"2026-08-18 22:45","pubTimestamp":1787064334,"startTime":"0","endTime":"0","summary":"UPDATE 2-Swiggy shareholders back move for Indian-owned statusAug 18 -Food and grocery delivery firm SwiggySWIG.NSsaid on Tuesday it has received shareholder approval to cap aggregate foreign ownership at 49.5%, paving the way for it to qualify as an Indian-owned and controlled company .The approval comes after shareholders rejected a similar proposal in May.Being an IOCC would help Swiggy's quick commerce arm Instamart move to an inventory-ownership from a marketplace model, providing strategic and operational advantages, the companyhad saidin its annual reportlast month.Under India's foreign investment rules, a company can qualify as an IOCC if more than 50% of its beneficial ownership is held by domestic entities or individuals. 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