Is Swiggy now an Indian-owned and controlled company?

Is Swiggy now an Indian-owned and controlled company?

Swiggy, the popular food delivery and quick commerce platform, has announced a major shift in its ownership structure.

As of July 6, the company's foreign shareholding has dropped to 49.76% of its paid-up equity capital on a fully diluted basis.

This marks a significant milestone for Swiggy, as its foreign shareholding has dipped below 50% for the first time in the company's recent history.