The proposal will now be placed before shareholders for approval through a special resolution at the company's 13th Annual General Meeting on August 18.

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…

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…