Board Meeting23 Jul 2026, 04:27 pm
Swiggy Board Approves AGM, Foreign Ownership Cap, AoA/MoA Alterations
AI Summary
Swiggy Limited's Board of Directors met on July 23, 2026, approving the convening of the 13th Annual General Meeting (AGM) on August 18, 2026. Key decisions include setting a foreign ownership cap at 49.50% and approving alterations to the Articles of Association (AoA) and Memorandum of Association (MoA). These changes aim to qualify Swiggy as an Indian-owned and controlled company and involve reclassifying preference share capital to equity share capital. The proposals will be presented to shareholders for approval via special and ordinary resolutions at the AGM.
Key Highlights
- 13th AGM scheduled for August 18, 2026, via Video Conferencing.
- Foreign ownership cap set at 49.50% on a fully diluted basis.
- Articles of Association to be altered for Indian ownership compliance.
- Preference share capital to be reclassified to equity share capital.
- Shareholder approval required for MoA and AoA changes.
Price Impact
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