Swiggy, a food delivery and quick commerce company, has acquired the status of an Indian-owned company after the domestic ownership stake surpassed the 50 percent mark. This change in status opens up the possibility for Instamart to implement an inventory management model.
Change in Ownership Structure
According to documentation filed with the stock exchange on Tuesday, total foreign investment in Swiggy, including direct and portfolio foreign investments, as well as other indirect foreign investments, amounted to approximately 49.76 percent of the fully diluted paid-up share capital of the company as of July 6, 2026. Consequently, the domestic ownership share increased to 50.24 percent.
Swiggy clarified that this change itself does not alter the ownership or control status of the company, nor does it affect its share capital, management, operational activities, voting rights, or rights associated with its shares.
Attempt to Obtain IOCC Status
Previously, in May, the company's shareholders failed to approve a resolution classifying Swiggy as an Indian-owned and controlled company (IOCC). The proposal received support from 72.36 percent of shareholders, which was below the required 75 percent for amending the company's Articles of Association, a key step toward obtaining IOCC status.
Obtaining IOCC status is strategically important for Swiggy because it will allow its quick commerce division, Instamart, to directly own inventory. This move will improve unit economics and provide greater control over supply chains, warehousing, and procurement.
Company Financial Performance
On a consolidated basis, the Bengaluru-headquartered company reported operating revenue of 23,053 crore rupees for fiscal year 26, compared to 15,227 crore rupees in fiscal year 25. Net loss decreased to 800 crore rupees in the fourth quarter of fiscal year 26, down from 1,081 crore rupees in the corresponding quarter of the previous year and 1,065 crore rupees in the preceding quarter.
The Eternal Example
Earlier, Eternal, the parent company of Zomato and Blinkit, imposed a limit on foreign ownership at 49.5 percent after Indian investors gained a majority. This allowed Blinkit to transition from a marketplace model to an inventory-managed structure. This step contributed to an increase in reported revenue, as Eternal showed revenue of 17,292 crore rupees in the March quarter of fiscal year 26 after recognizing the full cost of sales instead of just commissions.
