Swiggy Slumps Nearly 8% After Renewed Push To Cap Foreign Ownership
Shares of Swiggy tanked as much as 7.8% to ₹242.60 during the intraday trading on the BSE, a day after the company’s board approved a proposal to cap its aggregate foreign ownership at 49.5% as part of its renewed push to become an Indian-owned and controlled company (IOCC).
Worth a read for people-focused operators. Published by Inc42 — context above is the source's own framing.
Shares of Swiggy tanked as much as 7.8% to ₹242.60 during the intraday trading on the BSE, a day after the company’s board approved a proposal to cap its aggregate foreign ownership at 49.5% as part of its renewed push to become an Indian-owned and controlled company (IOCC).
This article lives at Inc42. We linked it because we found it valuable for F&B operators.
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Swiggy’s subsidiary, Swiggy Networks Ltd, has entered a share acquisition agreement with B2B ecommerce unicorn Udaan to acquire Swiggy-owned retail distribution platform LYNK in a share-swap transaction valuing the business at ₹500 Cr.
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