Swiggy shares drop 7% on foreign ownership cap proposal

Swiggy's shares dropped over 7% on July 24, 2026, after the company proposed to cap foreign ownership at 49.5%.

This move could lead to its removal from global equity indices and significant passive fund outflows.

The proposal will be voted on at the company's Annual General Meeting on August 18, 2026.

Swiggy's food delivery and quick commerce businesses, like Instamart, have been growing rapidly, but the company faces intense competition and aims to improve profitability.

The company is also expanding its fulfilment infrastructure with dark stores.