IOCC STATUS
'Desi' Swiggy bets on Instamart model shift, mirroring main rival Blinkit
Swiggy's Instamart will adopt an inventory model after shareholder approval for India-owned status. This change allows Instamart to potentially improve margins and gain greater control. The quick-commerce unit aims to catch up with market leader Blinkit in this competitive sector. This shift requires higher working capital for inventory purchases and stock management. Instamart's transition is part of Swiggy's broader strategy for profitability.
Swiggy to see $400 million outflows after Indian-owned status? Jefferies explains why
Swiggy is moving closer to becoming an Indian-owned and controlled company (IOCC), a move that could enable an inventory-led model for Instamart and potentially improve margins. However, Jefferies expects the shift to trigger passive outflows of over $400 million from MSCI and FTSE indices due to foreign ownership limits. The brokerage retained its Buy rating with a target price of Rs 435.
Why Swiggy shares fell over 5% today: Foreign ownership cap sparks $460 million passive outflow fears
Swiggy shares fell after the company proposed cutting its foreign ownership limit to 49.5% from 100%, raising concerns over its eligibility for major global indices. The move could lead to Swiggy's exclusion from the MSCI Standard and FTSE indices, triggering an estimated $460 million in passive outflows, according to reports.
Infosys’ next CEO; Swiggy renews Indian-ownership bid
Infosys announced on Thursday that company veteran Ashiss Kumar Dash will be the CEO from April 2027. This and more in today’s ETtech Top 5.
Swiggy board approves 49.5% foreign ownership cap, renews bid to become Indian-owned
The cap will allow Swiggy to remain majority Indian-owned, which in turn, will enable it to transition to an inventory-led model. Swiggy's rival Eternal, the parent company of Zomato and Blinkit, had undertaken a similar exercise in April last year. Following this, Blinkit moved to an inventory model from a pure marketplace model earlier.
Paytm likely to announce its first-ever bonus issue today: What lies ahead for its 7.5 lakh retail shareholders?
Paytm's parent company will announce its first bonus share issue today. This announcement coincides with the release of its Q1 FY27 earnings report. Domestic investors have increased their stake in the fintech platform significantly. The company reported its first full-year profit in FY26. Global brokerages maintain a positive outlook on Paytm's stock performance.
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Bonus issue alert! Paytm to consider first-ever bonus issue along with Q1 results on July 20
Paytm parent One97 Communications will consider its first-ever bonus share issue alongside its June-quarter results on July 20. The proposal comes after the company reported its first full-year profit in FY26 and amid rising domestic institutional ownership, with mutual funds and insurers increasing their stakes in the fintech major.
Swiggy, Eternal shares jump up to 20% in one month. Should you buy or avoid?
Swiggy and Eternal shares have seen significant gains recently. Swiggy's domestic ownership crossing fifty percent boosted investor confidence. Analysts express bullish views on both companies' long-term growth prospects. Eternal's quick commerce segment shows promising EBITDA positive results. Investors should monitor competition and valuation dynamics closely.
ETtech Explainer: Why quick commerce business models are under scrutiny
Under India’s foreign direct investment (FDI) rules, companies with a majority foreign ownership can only operate on a marketplace model. Industry experts and analysts said digital platforms’ expansion into newer models blurs the lines between marketplace and retailer, raising fresh competition and regulatory concerns. ET explains the issue.
ET Graphics: Domestic investors overtake foreign funds at Swiggy in a show of home advantage
Domestic investors now hold majority stakes in Swiggy, reducing foreign holdings. Several foreign institutional investors have significantly reduced their stakes in the hyperlocal platform. Meanwhile, domestic institutional investors have increased their holdings in Swiggy. This shift moves Swiggy closer to Indian-owned and controlled company status. The company will restructure its board to achieve this new designation.
ETtech Explainer: Has Swiggy become Indian-owned after a drop in foreign ownership?
The IOCC status will allow Swiggy’s quick commerce arm Instamart to own inventory, thereby improving margins and supply chain control. However, while the foreign shareholding in the company has dropped to less than half, Swiggy has not yet achieved IOCC status.
Swiggy, Eternal surge up to 7%. Should investors chase the rally?
Swiggy and Eternal shares rallied sharply on Thursday as investor sentiment improved on Swiggy's foreign ownership falling below 50% and optimism around quick commerce. Analysts remain positive on Eternal's long-term prospects, while maintaining a more cautious stance on Swiggy amid intensifying competition in the fast-growing quick commerce market.
Swiggy's foreign shareholding falls below 50%: What it means for investors
Swiggy's foreign shareholding now stands below fifty percent, meeting a key regulatory requirement. This change allows the company to pursue Indian-Owned-and-Controlled Company status under FEMA rules. However, full qualification is not expected until March 2027, after governance changes. Reducing foreign ownership further may impact index weightage for Swiggy. JM Financial maintains a 'Reduce' rating with an unchanged target price.
Google Cloud’s big India AI bet; Swiggy crosses key ownership threshold
Google Cloud is supercharging its India bet with a local AI play and a potential manufacturing push. This and more in today’s ETtech Morning Dispatch.
Swiggy’s Indian control push; Cultfit’s big IPO swing
Swiggy has inched closer to qualifying as an Indian-owned and controlled company. This and more in today's ETtech Top 5.
Swiggy becomes majority Indian-owned as foreign shareholding drops below 50%
The shift is significant for the food delivery and quick commerce major. In May, its shareholders had failed to pass a resolution to classify it as an Indian-owned and controlled company (IOCC), a status that would let its quick commerce arm Instamart own inventory directly, improving margins and supply chain control.
Swiggy shares jump 7% as foreign ownership falls below 50%. What this means quick commerce giant?
Swiggy shares rallied sharply on Tuesday after foreign ownership fell below 50%, taking the company closer to qualifying as an Indian-owned and controlled company. While no immediate operational changes follow, the milestone could eventually allow Instamart to own inventory directly, boosting margins and improving supply chain efficiency.
Swiggy CEO on quick commerce space; India’s data centre surge
In an interview, Swiggy group CEO Sriharsha Majety explained the outlook for the quick commerce industry and the shareholder vote hurdle, among other things. This and more in today’s ETtech Top 5.
ETtech Interview | Quick commerce industry unlikely to sustain as many players as today: Swiggy's Sriharsha Majety
Swiggy CEO Sriharsha Majety believes the quick commerce market is overpopulated and prioritises long-term economics over market share battles. He addressed recent shareholder concerns regarding board appointment rights, emphasising its link to the company's Indian Owned and Controlled Company (IOCC) status.
Swiggy CEO on failed shareholder vote; Indian firms brace for Mythos
Happy Thursday! Swiggy group CEO Sriharsha Majety opened up about the recent hitch to become an Indian-owned company. This and more in today's ETtech Morning Dispatch.
ETtech Explainer: How Swiggy’s failed bid to become an Indian firm matters for Instamart
Swiggy's bid to become an Indian-owned-and-controlled company (IOCC) has been delayed after shareholders failed to approve changes to its articles of association. This governance reset was crucial for its Instamart unit to gain inventory flexibility and improve margins, a strategy that benefited rival Eternal.
Swiggy fails to clear shareholder hurdle in bid to recast itself as Indian-owned company
In an exchange filing on Thursday, Swiggy stated that its resolution on the Amendment of Articles of Association received 72.36 per cent votes of shareholders, falling short of the required threshold by 2.65 per cent.
Swiggy’s shareholder setback; Walmart’s Flipkart push
Happy Friday! Swiggy’s move to become an Indian-owned company hit a setback after the shareholder vote fell short. This and more in today’s ETtech Morning Dispatch.
Swiggy moves to become India-owned company, eyes fewer FDI restrictions
Swiggy has announced upcoming adjustments to its board nomination policies as part of its strategy to establish itself as an Indian owned and controlled company. This initiative is designed to align with foreign exchange compliance requirements.
Paytm’s cap table turns Indian: What changes now?
Domestic investors now own 50.3% of the digital payment firm's equity, marking a transition to majority Indian ownership and control. This shift is driven by increased participation from domestic institutional investors (DIIs).
FII holding in Eternal declines for 7th straight quarter. Is recent correction a buying opportunity?
Foreign institutional investor holding in Eternal has declined for seven consecutive quarters, falling from 54% to 36.2% due to a 49.5% foreign ownership cap aimed at maintaining Indian ownership status for Blinkit's inventory-led model.
Eternal shares could see $1.3 billion FII outflow, MSCI exclusion. Jefferies explains why
As of the March quarter-end, foreign ownership in Eternal stood at 44.8%. Commenting on recent market activity, Vivek Maheshwari of Jefferies noted, “Given the stock’s upward movement and increased volumes since the last shareholding disclosure, we believe FPI holding may have risen to around 46%.”
Zomato and Blinkit parent Eternal's board clears plan to cap foreign ownership at 49.5%
The company said that the Indian-Owned-and-Controlled Company (IOCC) will enable Blinkit to improve its margins -- particularly in fragmented or unbranded categories, as well as in established FMCG segments, where owning inventory allows for better margins. Eternal also noted that several Indian companies benefit from IOCC status by owning inventory in their online commerce operations.
Report directly to me: Air India CMD asks its operations control centre to cut flight delays
Air India CMD Campbell Wilson has asked the airline's integrated operations control centre (IOCC), which is the "nerve centre" of any carrier, to report directly to him and give recommendations on how to improve the on-time performance.
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