India, May 22 -- Shareholders have shot down foodtech major Swiggy's bid to become an Indian-owned and controlled company (IOCC).

The foodtech giant failed to secure the necessary votes to amend its articles of association (AoAs) and rejig its board nomination framework. In a filing with the exchanges, the company said that it received 72.36% of the votes in favour of the amendment, falling short of the 75% threshold by 2.65%.

This is the first time that shareholders have voted down a resolution since the foodtech giant went public in November 2024.

This follows the company last month issuing a postal ballot notice, seeking shareholder approval for amendments to its AoAs and the appointment of Renan De Castro Alves Pinto as a non-execu...