Foreign ownership in Swiggy goes below 50%

Foreign investment in Swiggy dropped below the 50% mark to 49.76% of its total paid-up equity share capital on a fully diluted basis, the food delivery and quick commerce firm said in a regulatory filing on Tuesday. The aggregate foreign investment in Swiggy includes foreign portfolio investment, foreign direct investment and other indirect foreign investment. The shift assumed significance as the food delivery and quick commerce firm has been trying to qualify as an Indian owned and controlled