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The Economic Times
The Economic Times

Why Swiggy shares fell over 5% today: Foreign ownership cap sparks $460 million passive outflow fears

Swiggy FTSE Blinkit

Swiggy shares tumbled 5.4% to Rs 247.45 on the BSE as the food delivery and quick commerce company’s proposed foreign ownership ceiling raised the prospect of its deletion from global indices and potential passive outflows of about $460 million.

The board has approved reducing the aggregate foreign ownership limit to 49.5% from 100%, subject to shareholder approval at the company’s annual general meeting on August 18.

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