Swiggy shareholders block board rights expansion for founder Majety in rare investor revolt
Special resolution to widen founder Sriharsha Majety's board nomination rights fell short, securing just 72.36% versus the 75% threshold. Proxy advisers and global institutions including Prosus-linked holders pushed back amid widening losses and a 45% share price slide since listing.
Swiggy shareholders rejected an AoA amendment that would have expanded founder Majety's board nomination rights, with only 72.36% support against the 75% threshold. Proxy advisers and global institutions opposed the move amid widening losses and 45% share decline.
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