Swiggy's Indian-controlled status push stalls as shareholder vote falls short of 75% threshold
Special resolution to amend Swiggy's AoA—a key step toward Indian Owned and Controlled Company status under FEMA—secured 72.36% approval, missing the 75% bar. The setback blocks proposed director appointments slated for June 2026, even as Q4 revenue hit Rs 6,383 crore (+44.7% YoY) with losses narrowing 26%.
What happened
Swiggy's special resolution to amend its AoA, a step toward Indian Owned and Controlled Company status under FEMA, failed with 72.36% approval versus the 75%
Key facts
- 72.36% votes in favour
- 75% threshold
- 98.98% votes
- Rs 6,383 crore Q4 revenue
- 44.7% YoY growth
- 26% loss narrowing
Why this matters
Without IOCC status, Swiggy's flexibility on inventory-led commerce, regulated category expansion, and India-controlled M&A remains capped, narrowing the strategic playbook versus domestically-controlled peers.