Swiggy Board Approves AGM, Proposes Changes to AoA and MoA Cap Foreign Ownership

Swiggy Board Approves AGM, Proposes Changes to AoA and MoA Cap Foreign Ownership​

Swiggy Limited's Board of Directors held a meeting on July 23, 2026, and considered and approved several key corporate actions, including the convening of its next Annual General Meeting (AGM) and proposed structural changes relating to share capital and foreign ownership.

The company announced that its 13th AGM is scheduled for Tuesday, August 18, 2026. The meeting will be held at 3:00 P.M. (IST) via Video Conferencing or other Audio-Visual Means.

Proposed Corporate Restructuring​

At the board meeting, several critical proposals were put forward and approved by the directors for shareholder consideration at the AGM. These matters include alterations to the Articles of Association (AoA), changes to the Memorandum of Association (MoA), and setting a cap on aggregate foreign ownership.

The key resolutions slated for the shareholders' approval are:

• Foreign Ownership Cap: A maximum limit has been set for total foreign ownership at 49.50% on a fully diluted basis. This calculation encompasses Foreign Portfolio Investors, non-resident Indians, and any investment vehicles or companies outside of India.
• Alteration of AoA: Changes to the Articles of Association were proposed. These amendments are part of Swiggy's effort to qualify as an Indian owned and controlled company (IOCC) under applicable foreign exchange laws. The amendments include deletions of certain individual and institutional nomination rights, as well as revisions and inclusion of nomination rights for specified resident individuals.
• Amendment of MoA: There is a proposal to reclassify the authorized preference share capital into authorized equity share capital. This change will occur without altering the total authorized share capital of the company, necessitating a substitution of Clause V of the Memorandum of Association (MoA).

The alteration of the MoA is proposed as an ordinary resolution, while the changes to the AoA and the foreign ownership cap are slated for special resolutions at the 13th AGM.

Board Meeting Details​

The board meeting commenced at 3:30 P.M. and concluded at 4:10 P.M. on July 23, 2026. The notice of the Annual General Meeting, along with other required information under the Companies Act, 2013, is planned for publication in due course.

SWIGGY Stock Price Movement​

Shares of Swiggy Limited today slipped by 0.97%, settling at ₹261.55 in post-market trading. The equity finished after a volatile session, having traded 7.06 million shares and briefly touching an intraday low near ₹260.94.