TechInc42about 2 hours ago
Swiggy Gets IOCC Tag, Instamart Pivot
6 min read
Swiggy secured shareholder approval to cap foreign ownership at 49.5%, qualifying as an IOCC. This enables Instamart to adopt an inventory-led model, procuring directly from brands. The pivot targets Instamart's ₹651 Cr Q1 FY27 losses. Shiprocket's IPO closed oversubscribed 99.38X, with 500 Global returning 77.6X and Lightrock exiting at 0.7X.
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