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Swiggy CEO, MD, chairman, board of directors and AGM

NSE: SWIGGYBSE: 544285RetailingMid Cap

Last close ₹176.00down ₹35.40 (16.75%)BSE ₹176.70

Share price at the NSE close on 23 Oct 2026. Previous close ₹211.40.

52-week range of traded prices to 23 Oct 2026
₹174.95Low, 23 Oct 2026₹434.00High, 31 Oct 2025
Market cap
₹48,582 Cr133rd largest listed
P/E
Lossover the last 12 months
P/B
2.9
Dividend yield
Nonein the last 12 months
ROE
−26.7%
ROCE
−24.3%
Debt to equity
0.00
Volume, NSE
13,74,28,52626.8% delivered

Swiggy board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonAnand Kripalu
  • Managing director and CEOSriharsha Majety
  • Company Secretary and Compliance OfficerCauveri Sriram

7 directors4 independent1 executive2 non-executive

  • Anand Kripalu · ChairpersonIndependent · joined Dec 2023 · 34 months as independent · 4 listed boards · 3 as independent · 5 committee seats, 1 as chair
  • Shailesh V HaribhaktiIndependent · joined Jan 2023 · reappointed Jan 2026 · 45 months as independent · 6 listed boards · 5 as independent · 9 committee seats, 4 as chair
  • Suparna MitraIndependent · joined Apr 2024 · 30 months as independent · 2 listed boards · 1 as independent · 2 committee seats, 1 as chair
  • Faraz KhalidIndependent · joined Jul 2025 · 14 months as independent · 1 listed board · 1 as independent
  • Sriharsha Majety · Managing director and CEOExecutive · joined Dec 2013 · reappointed Apr 2024 · 1 listed board
  • Ashutosh SharmaNominee, non-executive · joined Jun 2017 · reappointed Aug 2025 · 1 listed board · 1 committee seat
  • Renan De Castro Alves PintoNominee, non-executive · joined Apr 2026 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

5 directors who left
  • Lakshmi Nandan Reddy Obul, left 10 Apr 2026: Others
  • Roger Clarks Rabalias, left 10 Apr 2026: Others
  • Sumer Juneja, left 25 Jul 2025: Others
  • Anand Daniel, left 25 Jul 2025: Others
  • Sahil Barua, left 11 Apr 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 30 Jul 20267 of 7 present4 independent · 6 days in between
    • 23 Jul 20267 of 7 present4 independent · 75 days in between
    • 8 May 20267 of 7 present4 independent · 27 days in between
    • 10 Apr 20265 of 8 present3 independent

  • Audit Committee

    Chair Shailesh V Haribhakti

    Anand Kripalu, Suparna Mitra, Renan De Castro Alves Pinto

    • 30 Jul 20264 of 4 present3 independent · 28 days in between
    • 1 Jul 20264 of 4 present3 independent · 53 days in between
    • 8 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Suparna Mitra

    Anand Kripalu, Ashutosh Sharma

    • 8 May 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Suparna Mitra

    Ashutosh Sharma, Anand Kripalu

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Sriharsha Majety

    Shailesh V Haribhakti, Faraz Khalid

    • 23 Sep 20262 of 3 present1 independent · 137 days in between

  • Corporate Social Responsibility Committee

    Chair Sriharsha Majety

    Anand Kripalu, Suparna Mitra

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2025.

  • B S R & Co. LLPPeer-review certificate valid to Jul 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Swiggy AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Swiggy share news and announcements

Annual general meeting, 18 Aug 2026

5,85,768 shareholders on the register on 11 Aug 2026; present: 0 promoters and 84 others; votes counted by Biswajit Ghosh / BMP & Co LLP.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone Financial Statements, Directors Report and the Statutory Auditors Report for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 79.10% · promoters 0.00% · institutions 92.59% · other public 68.64%

  2. Adoption of the Audited Consolidated Financial Statements and the Statutory Auditors Report for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 79.10% · promoters 0.00% · institutions 92.59% · other public 68.64%

  3. Appointment of Mr. Ashutosh Sharma (DIN: 07825610), who retires by rotation.
    Ordinary
    96.10% for3.90% against

    Against: promoters 0.00% · institutions 7.59% · other public 0.04%

    Turnout: all 79.11% · promoters 0.00% · institutions 92.61% · other public 68.64%

  4. Re-classification of the authorised share capital of the company and consequent alteration to the Clause V of the Memorandum of Association of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 79.11% · promoters 0.00% · institutions 92.61% · other public 68.64%

  5. To Consider and Approve a Cap of upto 49.50% on the Aggregate Foreign Ownership
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 79.10% · promoters 0.00% · institutions 92.60% · other public 68.64%

  6. To approve the deletion of certain provisions of Articles of Association of the Company.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 79.11% · promoters 0.00% · institutions 92.61% · other public 68.64%

  7. To Approve the Alteration of Articles of Association of the Company
    Special
    93.97% for6.03% against

    Against: promoters 0.00% · institutions 11.76% · other public 0.04%

    Turnout: all 79.11% · promoters 0.00% · institutions 92.61% · other public 68.64%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 20 May 2026, 2 resolutions

5,43,315 shareholders on the register on 10 Apr 2026; votes counted by Mr. Pramod S. M. or failing him Mr. Biswajit Ghosh / Ms BMP and Co. LLP Practicing Company Secretary firm Bengaluru.The company's voting result (opens in a new tab)

  1. To approve the alteration of Articles of Association of the Company
    SpecialNot passedRecorded as not passed although most votes were for it; no reason is given
    72.36% for27.64% against

    Against: promoters 0.00% · institutions 59.15% · other public 0.73%

    Turnout: all 81.45% · promoters 0.00% · institutions 93.34% · other public 73.46%

  2. Appointment of Mr. Renan De Castro Alves Pinto (DIN: 03118947) as a Non-Executive, Non-Independent Nominee Director of the Company, liable to retire by rotation.
    Ordinary
    98.98% for1.02% against

    Against: promoters 0.00% · institutions 2.21% · other public 0.00%

    Turnout: all 81.45% · promoters 0.00% · institutions 93.34% · other public 73.46%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 8 Dec 2025, 1 resolution

5,49,284 shareholders on the register on 1 Dec 2025; present: 0 promoters and 47 others; votes counted by Biswajit Ghosh / BMP & Co. LLP.The company's voting result (opens in a new tab)

  1. APPROVAL TO RAISE CAPITAL BY WAY OF A QUALIFIED INSTITUTIONS PLACEMENT TO ELIGIBLE INVESTORS THROUGH AN ISSUANCE OF EQUITY SHARES FOR AN AMOUNT NOT EXCEEDING ₹ 10,000 CRORES.
    Special
    99.48% for0.52% against

    Against: promoters 0.00% · institutions 1.46% · other public 0.00%

    Turnout: all 76.44% · promoters 0.00% · institutions 89.83% · other public 70.63%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 1 Nov 2025, 2 resolutions

5,28,620 shareholders on the register on 26 Sep 2025; votes counted by Pramod S.M. / BMP & Co.LLP.The company's voting result (opens in a new tab)

  1. Approval for sale and transfer of the Instamart Undertaking of the Company to an indirect wholly owned subsidiary of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 46.26% · promoters 0.00% · institutions 88.40% · other public 29.94%

  2. Approval of Material Related Party Transaction for the sale and transfer of 1,63,990 Series D Compulsorily Convertible Preference Shares and 10 equity shares held by the Company in Roppen Transportation Services Private Limited to MIH Investments One B.V: Ordinary Resolution.MoreLess
    Ordinary
    99.45% for0.55% against

    Against: promoters 0.00% · institutions 0.96% · other public 0.01%

    Turnout: all 43.45% · promoters 0.00% · institutions 88.40% · other public 26.05%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 21 Aug 2025, 9 resolutions

5,03,795 shareholders on the register on 14 Aug 2025; present: 0 promoters and 71 others; votes counted by Pramod S.M. / BMP & Co.LLP.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone Financial Statements, Directors Report and the Statutory Auditors Report for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  2. Adoption of the Audited Consolidated Financial Statements and the Statutory Auditors Report for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  3. Appointment of Mr. Lakshmi Nandan Reddy Obul (DIN: 06686145), who retires by rotation.
    Ordinary
    99.52% for0.48% against

    Against: promoters 0.00% · institutions 1.82% · other public 0.00%

    Turnout: all 73.20% · promoters 0.00% · institutions 79.44% · other public 71.23%

  4. Appointment of Ms. Walker Chandiok and Co. LLP, Chartered Accountants (Firm Registration No. 001076N or N500013) as the Statutory Auditors of the Company
    Ordinary
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 2.12% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  5. Appointment of Ms. V Sreedharan and Associates as the Secretarial Auditors of the Company for a period of five (5) years.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  6. Approval for continuation of Mr. Ashutosh Sharma (DIN: 07825610) as a Non-Executive Nominee Director of the Company.
    Ordinary
    91.10% for8.90% against

    Against: promoters 0.00% · institutions 29.98% · other public 1.37%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  7. Approval for continuation of Mr. Roger Clark Rabalais (DIN: 07304038) as a Non-Executive Nominee Director of the Company.
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 1.16% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  8. Re-appointment of Mr. Shailesh Vishnubhai Haribhakti (DIN: 00007347) as a Non-Executive, Independent Director of the Company commencing from January 24, 2026, up to January 23, 2031.
    Special
    99.22% for0.78% against

    Against: promoters 0.00% · institutions 2.96% · other public 0.00%

    Turnout: all 73.43% · promoters 0.00% · institutions 80.40% · other public 71.23%

  9. Appointment of Mr. Faraz Khalid (DIN:01449885) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 73.20% · promoters 0.00% · institutions 79.44% · other public 71.23%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 2 Apr 2025, 2 resolutions

5,04,873 shareholders on the register on 21 Feb 2025; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result (opens in a new tab)

  1. Amendment of Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024 through trust route and amendments made thereto.
    Special
    89.33% for10.67% against

    Against: promoters 0.00% · institutions 52.81% · other public 3.18%

    Turnout: all 75.77% · promoters 0.00% · institutions 84.26% · other public 74.44%

  2. Authorization for providing financial assistance to Swiggy Employee Stock Option Trust for implementation of Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024 through trust route and amendments made thereto.MoreLess
    Special
    92.50% for7.50% against

    Against: promoters 0.00% · institutions 49.72% · other public 0.00%

    Turnout: all 75.77% · promoters 0.00% · institutions 84.26% · other public 74.44%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 4 Jan 2025, 3 resolutions

3,72,577 shareholders on the register on 29 Nov 2024; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result (opens in a new tab)

  1. Alteration of Articles of Association of the Company
    Special
    84.38% for15.62% against

    Against: promoters 0.00% · institutions 67.64% · other public 5.76%

    Turnout: all 73.72% · promoters 0.00% · institutions 82.67% · other public 72.24%

  2. Ratification of Swiggy Employee Stock Options Plan 2024
    Special
    85.78% for14.22% against

    Against: promoters 0.00% · institutions 66.57% · other public 4.29%

    Turnout: all 73.72% · promoters 0.00% · institutions 82.67% · other public 72.24%

  3. Ratification of the extension of the benefits of Swiggy Employee Stock Options Plan 2024 to the employees of subsidiary companies and group companies of the Company
    Special
    84.99% for15.01% against

    Against: promoters 0.00% · institutions 71.52% · other public 4.29%

    Turnout: all 73.72% · promoters 0.00% · institutions 82.67% · other public 72.24%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 18 Aug 2026, 15 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Adoption of the Audited Standalone Financial Statements, Directors Report and the Statutory Auditors Report for the financial year ended March 31, 2026
    15 for0 against
  • Adoption of the Audited Consolidated Financial Statements and the Statutory Auditors Report for the financial year ended March 31, 2026
    15 for0 against
  • Appointment of Mr. Ashutosh Sharma (DIN: 07825610), who retires by rotation.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance and Transparency Concerns: Inadequate attendance at Board Meetings and no adequate justification for the absence. Further, the Director is an Nomination & Remuneration Committee Member and governance concern is identified in relation to the ESOP decisions, which also extends to the proposed re-appointment in view of Mr. Ashutosh Sharma being member of the Nomination & Remuneration Committee.
    • Edelweiss Mutual Fund, LIC Mutual FundCompliant with Law. No concern is identified with profile, time commitments and merit of Director. Governance and Transparency Concerns: The Director is an NRC Member and governance concern is identified in relation to the ESOP decisions, which also extends to the proposed re-appointment in view of Mr. Ashutosh Sharma being member of the NRC.
    • Navi Mutual FundCompliant with Law. No concern is identified with profile, time commitments and merit of Director. Governance and Transparency Concerns: Inadequate attendance at Board Meetings and no adequate justification for the absence. Further, the Director is an NRC Member and governance concern is identified in relation to the ESOP decisions, which also extends to the proposed re-appointment in view of Mr. Ashutosh Sharma being member of the NRC.
    11 for4 against
  • Re-classification of the authorised share capital of the company and consequent alteration to the Clause V of the Memorandum of Association of the Company
    15 for0 against
  • To Consider and Approve a Cap of upto 49.50% on the Aggregate Foreign Ownership
    15 for0 against
  • To approve the deletion of certain provisions of Articles of Association of the Company.
    14 for0 against
  • To Approve the Alteration of Articles of Association of the Company
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundQuestions over need for alternation; special rights considerably disproportionate to economic interest.
    • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with Law. Governance Concerns: The stated rationale for the proposed amendments is to ensure that control of the Company does not pass into the hands of a foreign shareholder and no issues are identified with this intent. However, the Company has already ensured Indian Control through capping foreign ownership at 49.50%. MIH has a right to nominate only 2 Directors, which, by itself, will not enable it to control the Board. Accordingly, the need for the proposed additional nomination rights to ensure Indian control does not appear necessary. The proposed amendments raise governance concerns as they would enable 3 Board seats with no proportionate economic interest in the Company, while the broader set of existing and proposed rights would result in 5 Board seats being subject to pre-determined nomination rights as against disproportionate economic interest. This creates a concentration of Board appointment rights among a large public shareholder, the founder and management personnel and results in a misalignment between Board representation and commensurate economic ownership. Further, with present structure of Board having ID Chairperson, the proposed Board Structure may also lead to Board majority comprising directors nominated through proposed arrangement, however, with non-significant economic stake. Accordingly, governance concerns are identified with the proposed amendments to the Board Nomination Rights under the Articles of Association.
    6 for4 against
4 proposals not matched to one resolution
  • 7) Approve insertion of certain provisions of the Articles of Association (AoA)
    1 for0 against
  • Amend Articles of Association - Board Related
    1 for0 against
  • Amend Articles of Association - Equity Related
    1 for0 against
  • Approve insertion of certain provisions of the Articles of Association (AoA)
    3 for0 against

Mutual fund votes, meeting of 20 May 2026, 34 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To approve the alteration of Articles of Association of the Company
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Canara Robeco Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund, WhiteOak Capital Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual Fund, LIC Mutual FundGovernance Concern: Proposed Articles continue to grant enhanced Board nomination rights to select public shareholders and founder/executive management personnel, resulting in disproportionate influence over Board composition relative to their shareholding and limiting broader shareholder participation in the Board nomination process.
    • Axis Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or been contractually surrendered and add new nomination rights. Sriharsha Majety will have the right to nominate one member from the company’s senior management to the board, in addition to his existing right to nominate himself, so long as he holds 67,704,848 equity shares (~2.45% of equity share capital as on 31 March 2026), or continues in a senior management position in the company. Further, Phani Kishan Addepalli will have the right to nominate himself to the board, subject to him being a shareholder, subject to continued employment and holding vested ESOPs / equity shares / a combination thereof equivalent to 2,934,194 equity shares representing 0.11% of equity share capital as on 31 March 2026. As of 1 April 2026, Phani Kishan Addepalli holds 275,983 equity shares and 7,335,484 vested employee stock options. We note that while the company has stated that the proposed amendments form part of its broader endeavour to achieve Indian-Owned-and-Controlled Company (IOCC) classification, this rationale was absent from the original postal ballot notice. The timing and structure of the proposed IOCC transition remain unclear. We believe that share ownership must have a bearing on board nomination rights. We do not support board nomination rights that are tethered to vested options that are yet to be exercised - Board nomination rights should be linked to a meaningful equity shareholding threshold. Given the above concerns, we do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Proposed Articles continue to grant enhanced Board nomination rights to select public shareholders and founder/executive management personnel, resulting in disproportionate influence over Board composition relative to their shareholding and limiting broader shareholder participation in the Board nomination process.
    • Baroda BNP Paribas Mutual FundCompliant with law. Governance Concern: The proposed amendment to the Article of Association grants board, nomination rights to select public shareholders and founder/executive management personnel, despite having shareholding below 10%. We believe that this is not in the best interests of the minority shareholders and institutional investors. Hence, we do not support the resolution.
    • Canara Robeco Mutual Fund, DSP Mutual Fund, Jio BlackRock Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or have been contractually surrendered, including those of the Accel Entities, SoftBank and Lakshmi Obul. However, the company also proposes to grant fresh nomination rights to Sriharsha Majety (MD & CEO) and Phani Kishan Addepalli (Chief Growth Officer), citing their contribution to the company.Sriharsha Majety will have the right to nominate one member from the company’s senior management to the board, in addition to his existing right to nominate himself, so long as he holds 67,704,848 equity shares, representing 2.45% of equity share capital as on 31 March 2026, or continues to hold a senior management position in the company. Phani Kishan Addepalli will have the right to nominate himself to the board, subject to him being a shareholder, continuing as a permanent full-time employee, and holding vested ESOPs / equity shares / a combination thereof equivalent to 2,934,194 equity shares representing 0.11% of equity share capital as on 31 March 2026. As of 1 April 2026, Phani Kishan Addepalli holds 275,983 equity shares and 7,335,484 vested employee stock options.We believe board nomination rights must be linked to a shareholding threshold: we support board nomination rights in the ratio of shareholding, with a baseline shareholding of at least 10%. Further, nomination rights must be linked to equity share capital, and not to vested stock options that are yet to be exercised. Therefore, we do not support the resolution.
    • Franklin Templeton Mutual Fund, HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The proposed amendments would enable Sriharsha Majety and Phani Kishan Addepalli to exercise control and influence over the Board which would be disproportionate to their respective shareholdings in the Company. • Sriharsha Majety’s board nomination rights are not entirely contingent upon the maintenance of a minimum shareholding threshold.
    • HDFC Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or have been contractually surrendered, including those of the Accel Entities, SoftBank and Lakshmi Obul. However, the company also proposes to grant fresh nomination rights to Sriharsha Majety (MD & CEO) and Phani Kishan Addepalli (Chief Growth Officer), citing their contribution to the company. The minimum shareholding requirement proposed for these nominations is inadequate. We do not support this resolution
    • ICICI Prudential Mutual FundWhile compliant with law, proposed article grants enhanced board nomination rights to founder/executive management personnel, resulting in disproportionate influence over Board composition relative to their shareholding and limiting broader shareholder participation in the Board nomination process. Hence, the AMC had voted against the resolution.
    • Invesco Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or have been contractually surrendered, including those of the Accel Entities, SoftBank and Lakshmi Obul. However, the company also proposes to grant fresh nomination rights to Sriharsha Majety (MD & CEO) and Phani Kishan Addepalli (Chief Growth Officer), citing their contribution to the company. Sriharsha Majety will have the right to nominate one member from the company’s senior management to the board, in addition to his existing right to nominate himself, so long as he holds 67,704,848 equity shares, representing 2.45% of equity share capital as on 31 March 2026, or continues to hold a senior management position in the company. Phani Kishan Addepalli will have the right to nominate himself to the board, subject to him being a shareholder, continuing as a permanent full-time employee, and holding vested ESOPs / equity shares / a combination thereof equivalent to 2,934,194 equity shares representing 0.11% of equity share capital as on 31 March 2026. As of 1 April 2026, Phani Kishan Addepalli holds 275,983 equity shares and 7,335,484 vested employee stock options. We believe board nomination rights must be linked to a shareholding threshold: we support board nomination rights in the ratio of shareholding, with a baseline shareholding of at least 10%. Further, nomination rights must be linked to equity share capital, and not to vested stock options that are yet to be exercised. Therefore, we do not support the resolution.
    • Mahindra Manulife Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or been contractually surrendered and add new nomination rights. Sriharsha Majety will have the right to nominate one member from the company’s senior management to the board, in addition to his existing right to nominate himself, so long as he holds 67,704,848 equity shares (~2.45% of equity share capital as on 31 March 2026), or continues in a senior management position in the company. Further, Phani Kishan Addepalli will have the right to nominate himself to the board, subject to him being a shareholder, subject to continued employment and holding vested ESOPs / equity shares / a combination thereof equivalent to 2,934,194 equity shares representing 0.11% of equity share capital as on 31 March 2026. As of 1 April 2026, Phani Kishan Addepalli holds 275,983 equity shares and 7,335,484 vested employee stock options. We note that while the company has stated that the proposed amendments form part of its broader endeavour to achieve Indian-Owned-and-Controlled Company (IOCC) classification, this rationale was absent from the original postal ballot notice. The timing and structure of the proposed IOCC transition remain unclear. We believe that share ownership must have a bearing on board nomination rights. We do not support board nomination rights that are tethered to vested options that are yet to be exercised - Board nomination rights should be linked to a meaningful equity shareholding threshold. Given the above concerns, we do not support the resolution. The company should have separated the resolutions for removal and addition of nomination rights so that the shareholders get the opportunity to vote on each nomination right separately. The company needs to find more suitable ways to address the requirements of IOCC that do not compromise governance structures and are not prejudicial to the interests of minority shareholders.
    • Motilal Oswal Mutual FundProposed Articles continue to grant enhanced Board nomination rights to select public shareholders and founder/executive management personnel, resulting in disproportionate influence over Board composition relative to their shareholding and limiting broader shareholder participation in the Board nomination process.
    • Nippon India Mutual FundGovernance Concern: The proposed articles grant enhanced Board nomination rights to select public shareholders and founder/executive management, resulting in disproportionate influence over Board composition relative to their shareholding and limiting broader shareholder participation.
    • quant Mutual FundRelated to the alteration of Articles of Association (AoA) of the company. Although compliant with the law, we have a governance concern that the proposed articles continue to grant enhanced board nomination rights to select public shareholders and executive management personnel, resulting in disproportionate influence over board composition relative to their shareholding and limiting broader shareholder participation in the board nomination process.
    • WhiteOak Capital Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or have been contractually surrendered, Given the nomination right are not linked to a shareholding threshold. Therefore, we do not support the resolution.
    9 for24 against
  • Appointment of Mr. Renan De Castro Alves Pinto (DIN: 03118947) as a Non-Executive, Non-Independent Nominee Director of the Company, liable to retire by rotation.
    34 for0 against
1 proposal not matched to one resolution
  • Item 1, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe proposed amendments delete certain legacy nomination rights that have ceased to operate or have been contractually surrendered, including those of the Accel Entities, SoftBank and Lakshmi Obul. However, the company also proposes to grant fresh nomination rights to Sriharsha Majety (MD & CEO) and Phani Kishan Addepalli (Chief Growth Officer), citing their contribution to the company.Sriharsha Majety will have the right to nominate one member from the company’s senior management to the board, in addition to his existing right to nominate himself, so long as he holds 67,704,848 equity shares, representing 2.45% of equity share capital as on 31 March 2026, or continues to hold a senior management position in the company. Phani Kishan Addepalli will have the right to nominate himself to the board, subject to him being a shareholder, continuing as a permanent full-time employee, and holding vested ESOPs / equity shares / a combination thereof equivalent to 2,934,194 equity shares representing 0.11% of equity share capital as on 31 March 2026. As of 1 April 2026, Phani Kishan Addepalli holds 275,983 equity shares and 7,335,484 vested employee stock options.We believe board nomination rights must be linked to a shareholding threshold: we support board nomination rights in the ratio of shareholding, with a baseline shareholding of at least 10%. Further, nomination rights must be linked to equity share capital, and not to vested stock options that are yet to be exercised. Therefore, we do not support the resolution.
    0 for1 against
5 earlier meetings

Mutual fund votes, meeting of 8 Dec 2025, 33 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • APPROVAL TO RAISE CAPITAL BY WAY OF A QUALIFIED INSTITUTIONS PLACEMENT TO ELIGIBLE INVESTORS THROUGH AN ISSUANCE OF EQUITY SHARES FOR AN AMOUNT NOT EXCEEDING ₹ 10,000 CRORES.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance and Transparency Concern: More clarity required on deployment timelines, objectwise allocation of the proposed funds and a specific justification for additional capital requirements for objects that already received IPO funding.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: In light of the substantial size of the proposed ? 10,000-crore QIP which is over twice the size of the IPO, combined with the fact that a portion of the IPO proceeds is still pending utilisation and an inflow of approximately ? 2,400 crores is expected from the Rapido transaction, it becomes particularly important for the Company to provide deployment timelines, a detailed object-wise allocation of the proposed funds and a specific justification for additional capital requirements for objects that already received IPO funding. Such transparency will assist shareholders in evaluating whether the capital requirements require a fundraise of this scale at the current juncture. Comprehensive disclosures also allow investors to understand how the proposed issuance fits within the Company’s overall capital-allocation strategy and whether raising the entire amount upfront is the most optimal approach from a long-term value standpoint, including considerations around future flexibility.
    • LIC Mutual FundCompliant with law. Governance and Transparency Concern: In light of the substantial size of the proposed 10,000-crore QIP which is over twice the size of the IPO, combined with the fact that a portion of the IPO proceeds is still pending utilisation and an inflow of approximately 2,400 crores is expected from the Rapido transaction, it becomes particularly important for the Company to provide deployment timelines, a detailed object-wise allocation of the proposed funds and a specific justification for additional capital requirements for objects that already received IPO funding. Such transparency will assist shareholders in evaluating whether the capital requirements require a fundraise of this scale at the current juncture. Comprehensive disclosures also allow investors to understand how the proposed issuance fits within the Company s overall capital-allocation strategy and whether raising the entire amount upfront is the most optimal approach from a long-term value standpoint, including considerations around future flexibility.
    25 for5 against

    1 abstained

1 proposal not matched to one resolution
  • Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
    2 for0 against

Mutual fund votes, meeting of 1 Nov 2025, 32 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Approval for sale and transfer of the Instamart Undertaking of the Company to an indirect wholly owned subsidiary of the Company
    32 for0 against
  • Approval of Material Related Party Transaction for the sale and transfer of 1,63,990 Series D Compulsorily Convertible Preference Shares and 10 equity shares held by the Company in Roppen Transportation Services Private Limited to MIH Investments One B.V: Ordinary Resolution.MoreLess
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundInadequate data to ascertain the fairness of the valuation proposed.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Transparency concern: No adequate details regarding the basis upon which the proposed valuation has been arrived at. The Valuation Report does not give details about the actual CCPS rights / preferences that would justify the value difference between equity and CCPS values.
    27 for4 against
1 proposal not matched to one resolution
  • Item 2, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 21 Aug 2025, 31 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Adoption of the Audited Standalone Financial Statements, Directors Report and the Statutory Auditors Report for the financial year ended March 31, 2025.
    31 for0 against
  • Adoption of the Audited Consolidated Financial Statements and the Statutory Auditors Report for the financial year ended March 31, 2025.
    30 for0 against
  • Appointment of Mr. Lakshmi Nandan Reddy Obul (DIN: 06686145), who retires by rotation.
    Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Excessive remuneration from the perquisites of ESOPs exercised. Proposed appointee has been granted ESOPs being a Founder, which appears significant. The Company’s ESOPs allocation in past has been disproportionate / biased and excessive in favour of Founder Executive Directors.
    • Baroda BNP Paribas Mutual FundCompliant with law. No concern regarding merits of appointee. Governance Concern: ESOP at face value and qty is large given co financials are yet to improve vs peers
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern regarding merits of appointee. Governance Concern: Excessive remuneration from the perquisites of ESOPs exercised. Proposed appointee has been granted ESOPs being a Founder, which appears significant. The Company’s ESOPs allocation in past has been disproportionate / biased and excessive in favour of Founder EDs.
    • LIC Mutual FundGovernance Concern: Excessive remuneration from the perquisites of ESOPs exercised. Proposed appointee has been granted ESOPs being a Founder, which appears significant. The Company s ESOPs allocation in past has been disproportionate / biased and excessive in favour of Founder EDs.
    24 for7 against
  • Appointment of Ms. Walker Chandiok and Co. LLP, Chartered Accountants (Firm Registration No. 001076N or N500013) as the Statutory Auditors of the Company
    Against Angel One Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundProposed audit fee payable to Statutory Auditors not disclosed.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo issues on merits of the proposed Statutory Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee payable to Statutory Auditors not disclosed.
    • LIC Mutual FundConcerns over Proposed audit fee payable to Statutory Auditors not disclosed.
    24 for6 against
  • Appointment of Ms. V Sreedharan and Associates as the Secretarial Auditors of the Company for a period of five (5) years.
    31 for0 against
  • Approval for continuation of Mr. Ashutosh Sharma (DIN: 07825610) as a Non-Executive Nominee Director of the Company.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Proposed appointee is Nomination & Remuneration Committee Member and the Company has granted ESOPs to Founder Executives, which is excessive and disproportionate considering the overall allocation of ESOPs.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Proposed appointee is NRC Member and the Company has granted ESOPs to Founder Executives, which is excessive and disproportionate considering the overall allocation of ESOPs.
    • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because Ashutosh Sharma has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because:• Ashutosh Sharma has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
    • LIC Mutual FundGovernance Concern: Proposed appointee is NRC Member and the Company has granted ESOPs to Founder Executives, which is excessive and disproportionate considering the overall allocation of ESOPs.
    • Sundaram Mutual FundAshutosh Sharma, 48, Nominee Director, represents MIH India Food Holdings, which held 23.3% of Swiggy’s equity on 30 June 2025. He has been on the board since June 2017 and attended ten of fifteen (66.7%) board meeting in FY25. We expect directors to attend all board meetings, and at the very least 75% of the board meetings over a three-year period. Approval for his continuation is being sought for compliance with SEBI’s new amendments: effective 1 April 2024, shareholder approval is required for all directors at least once in five years. His continuation is in line with statutory requirements. Ashutosh Sharma has served on the Nomination and Remuneration Committee (NRC) since January 2024 and, in that capacity, is accountable for decisions related to executive compensation. In FY25, prior to Swiggy’s listing, Sriharsha Majety, the Managing Director and CEO, was granted 48.5 million stock options with an aggregate fair value of Rs.12.7 billion, without any stated rationale. Following the listing, in FY25, he received a further grant of 2.2 million stock options, with an estimated fair value of Rs.704.4 million. As per the company’s remuneration policy, he remains eligible for future grants under existing schemes. These options were issued at face value and are subject to time- and performance-based vesting, with the split determined at the NRC’s discretion. However, no disclosures have been made regarding the performance metrics. Notably, the stock option scheme was opposed by 66% of institutional investors who participated in the January 2025 postal ballot. Since listing, Swiggy’s share price has declined by over 13%, and the company continues to report losses. In this context, the rationale for awarding such a substantial quantum of stock options to the Managing Director remains unclear. Sriharsha Majety’s total remuneration exceeds that of CEOs across all S&P BSE SENSEX companies, the majority of which are profitable. We expect NRC members to exercise their fiduciary responsibilities with diligence and transparency. We do not support the proposed resolution.
    20 for10 against
  • Approval for continuation of Mr. Roger Clark Rabalais (DIN: 07304038) as a Non-Executive Nominee Director of the Company.
    31 for0 against
  • Re-appointment of Mr. Shailesh Vishnubhai Haribhakti (DIN: 00007347) as a Non-Executive, Independent Director of the Company commencing from January 24, 2026, up to January 23, 2031.
    30 for0 against
  • Appointment of Mr. Faraz Khalid (DIN:01449885) as an Independent Director of the Company.
    31 for0 against
4 proposals not matched to one resolution
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundAshutosh Sharma, 48, Nominee Director, represents MIH India Food Holdings, which held 23.3% of Swiggy’s equity on 30 June 2025. He has been on the board since June 2017 and attended ten of fifteen (66.7%) board meeting in FY25. We expect directors to attend all board meetings, and at the very least 75% of the board meetings over a three-year period. Approval for his continuation is being sought for compliance with SEBI’s new amendments: effective 1 April 2024, shareholder approval is required for all directors at least once in five years. His continuation is in line with statutory requirements. Ashutosh Sharma has served on the Nomination and Remuneration Committee (NRC) since January 2024 and, in that capacity, is accountable for decisions related to executive compensation. In FY25, prior to Swiggy’s listing, Sriharsha Majety, the Managing Director and CEO, was granted 48.5 million stock options with an aggregate fair value of Rs.12.7 billion, without any stated rationale. Following the listing, in FY25, he received a further grant of 2.2 million stock options, with an estimated fair value of Rs.704.4 million. As per the company’s remuneration policy, he remains eligible for future grants under existing schemes. These options were issued at face value and are subject to time- and performance-based vesting, with the split determined at the NRC’s discretion. However, no disclosures have been made regarding the performance metrics. Notably, the stock option scheme was opposed by 66% of institutional investors who participated in the January 2025 postal ballot. Since listing, Swiggy’s share price has declined by over 13%, and the company continues to report losses. In this context, the rationale for awarding such a substantial quantum of stock options to the Managing Director remains unclear. Sriharsha Majety’s total remuneration exceeds that of CEOs across all S&P BSE SENSEX companies, the majority of which are profitable. We expect NRC members to exercise their fiduciary responsibilities with diligence and transparency. We do not support the proposed resolution.
    0 for1 against
  • Item 8, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 2 Apr 2025, 21 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Amendment of Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024 through trust route and amendments made thereto.
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations: Inadequate disclosure regarding exercise period and exercise price. Governance Concern: Excessive benefit may be extended to an individual employee.
    • HSBC Mutual FundA vote AGAINST the amendment of the ESOP Schemes has been warranted given that the transferring of existing options from previous schemes (ESOP 2015 and ESOP 2021) under the proposed amendment, significantly increasing the total options under ESOP 2024.
    • Invesco Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.62% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe companies must grant stock options at market price, or the options should carry performance-based vesting with clearly defined performance metrics. Since we do not support the scheme, we do not support the resolution.
    • Nippon India Mutual FundGovernance Concern: Inadequate disclosure
    • Tata Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.47% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, as discussed with the company at the time of ratification of the plan (04/01/25), we had voted against the agenda as these ESOPs may get issued at face value which in our opinion would be at very deep discount to the market price (~Rs. 550 on 03/01/25). Also, The Company had placed an absolute cap on the maximum number of options that can be granted to a single employee to be an aggregate limit of 1% of the issued capital of the Company which can amount to ~Rs. 1,200cr at 550rs. Though these were in compliance with SEBI regulation and company was departing from time based grant to stock price appreciation based grants, we had voted against the resolution considering deep discounted ESOPs and potential maximum benefit to single employee. Hence, our view on current agenda is linked to our view for agenda of previous meeting dated 04/01/2025. Hence, we vote against current resolution.
    9 for7 against
  • Authorization for providing financial assistance to Swiggy Employee Stock Option Trust for implementation of Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024 through trust route and amendments made thereto.MoreLess
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations: Inadequate disclosure regarding exercise period and exercise price. Governance Concern: Excessive benefit may be extended to an individual employee.
    • Invesco Mutual FundThe company proposes to provide an interest free loan of upto 5% of the paid-up capital and free reserves to the ESOP trust for implementation of the schemes. The company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.62% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe companies must grant stock options at market price, or the options should carry performance-based vesting with clearly defined performance metrics. Since we do not support the scheme, we do not support the resolution.
    • Nippon India Mutual FundGovernance Concern: Inadequate disclosure
    • Tata Mutual FundOur view is linked to 1st agenda and hence we vote against the resolution.
    10 for6 against
4 proposals not matched to one resolution
  • 1) Approve amendment to Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024.
    Against SBI Mutual Fund
    • SBI Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.47% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe companies must grant stock options at market price, or the options should carry performance-based vesting with clearly defined performance metrics. Since we do not support the scheme, we do not support the resolution.
    0 for1 against
  • 2) Approve provision of loan of upto 5% of paid up capital and free reserves to Swiggy Employee Stock Option Trust.
    Against SBI Mutual Fund
    • SBI Mutual FundThrough resolution #2, the company proposes to provide an interest free loan of upto 5% of the paid-up capital and free reserves to the ESOP trust for implementation of the schemes. Our view on this resolution is linked to our view on resolution #1. We do not support the resolution.
    0 for1 against
  • Approve amendment to Swiggy Employee Stock Option Plan 2015, Swiggy Employee Stock Option Plan 2021 and Swiggy Employee Stock Option Plan 2024
    Against DSP Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund
    • DSP Mutual Fund, Sundaram Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.47% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe companies must grant stock options at market price, or the options should carry performance-based vesting with clearly defined performance metrics. Since we do not support the scheme, we do not support the resolution.
    • UTI Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.47% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025).
    1 for3 against
  • Approve provision of loan of upto 5% of paid up capital and free reserves to Swiggy Employee Stock Option Trust
    Against DSP Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund
    • DSP Mutual FundThe company proposes to transfer options that have lapsed, as well as options which may lapse in the future, of the ESOP 2015 and ESOP 2021 schemes to ESOP 2024, and to implement the schemes through a trust route. Accordingly, 211,188,666 options will be available for grant under the ESOP 2024 and the overall dilution is ~8.47% on the expanded capital base as on 31 December 2024: which is high. Under the ESOP 2024, it is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.72% on the current market price (Rs. 354.3 as on 17 March 2025). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe companies must grant stock options at market price, or the options should carry performance-based vesting with clearly defined performance metrics. Since we do not support the scheme, we do not support the resolution. The company proposes to provide an interest free loan of upto 5% of the paid-up capital and free reserves to the ESOP trust for implementation of the schemes. We do not support the resolution.
    • Sundaram Mutual Fund, UTI Mutual FundThrough resolution #2, the company proposes to provide an interest free loan of upto 5% of the paid-up capital and free reserves to the ESOP trust for implementation of the schemes. Our view on this resolution is linked to our view on resolution #1. We do not support the resolution.
    1 for3 against

Mutual fund votes, meeting of 4 Jan 2025, 20 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Alteration of Articles of Association of the Company
    Against 360 One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund
    • 360 One Mutual Fund, Bandhan Mutual Fund, Helios Mutual FundCompliant with law. Governance Concern: Proposed Articles grant excessive rights to certain Public shareholders to control Board and Management.
    • Axis Mutual FundThrough the amendment, the institutional shareholders – MIH, Accel, Softbank – will have a shareholding threshold of 5% to nominate a director to the board. Sriharsha Majety, co-founder, Managing Director and Group CEO, will be able to nominate himself to the board as long as he holds a senior management position or has a pre_x0002_defined absolute number of equity shares (67.7 mn). Lakshmi Nandan Reddy Obul, co_x0002_founder and Whole time Director – Head of Innovation, will be able to nominate himself to the board as long as he is a permanent employee or has a pre-defined absolute number of equity shares (16.9 mn). Given the low threshold, We do not support the resolution.
    • HSBC Mutual FundGiven the concerns regarding the special rights granted to the company founders, shareholder approval is not warranted for this resolution
    • Invesco Mutual FundThrough the amendment, the institutional shareholders – MIH, Accel, Softbank – will have a shareholding threshold of 5% to nominate a director to the board. Sriharsha Majety, co-founder, Managing Director and Group CEO, will be able to nominate himself to the board as long as he holds a senior management position or has a pre-defined absolute number of equity shares (67.7 mn). Lakshmi Nandan Reddy Obul, co-founder and Whole time Director – Head of Innovation, will be able to nominate himself to the board as long as he is a permanent employee or has a pre-defined absolute number of equity shares (16.9 mn). Given the low threshold, we do not support the board nomination rights to the above shareholder groups. We recommend a minimum shareholding threshold of 10% to be able to nominate a director on the board. Hence, we do not support the resolution
    • Kotak Mahindra Mutual FundThrough the amendment, the institutional shareholders MIH, Accel, Softbank will have a shareholding threshold of 5% to nominate a director to the board. Sriharsha Majety, co-founder, Managing Director and Group CEO, will be able to nominate himself to the board as long as he holds a senior management position or has a pre-defined absolute number of equity shares (67.7 mn). Lakshmi Nandan Reddy Obul, co-founder and Whole time Director Head of Innovation, will be able to nominate himself to the board as long as he is a permanent employee or has a pre-defined absolute number of equity shares (16.9 mn). While we acknowledge that the founders have been instrumental in shaping the vision and steering the long-term strategy of the Company, we oppose the resolution given the low threshold of 5% shareholding for the other shareholder groups to nominate a Director onto the Board. Hence, voting against.
    • Nippon India Mutual FundProposed Articles grant excessive rights to certain Public shareholders to control Board and Management.
    • Sundaram Mutual FundThrough the amendment, the institutional shareholders – MIH, Accel, Softbank – will have a shareholding threshold of 5% to nominate a director to the board. Sriharsha Majety, co-founder, Managing Director and Group CEO, will be able to nominate himself to the board as long as he holds a senior management position or has a pre_x0002_defined absolute number of equity shares (67.7 mn). Lakshmi Nandan Reddy Obul, co_x0002_founder and Whole time Director – Head of Innovation, will be able to nominate himself to the board as long as he is a permanent employee or has a pre-defined absolute number of equity shares (16.9 mn). Given the low threshold, we do not support the board nomination rights to the above shareholder groups. We recommend a minimum shareholding threshold of 10% to be able to nominate a director on the board. Hence, we do not support the resolution
    • UTI Mutual FundThrough the amendment, the institutional shareholders – MIH, Accel, Softbank – will have a shareholding threshold of 5% to nominate a director to the board. Sriharsha Majety, co-founder, Managing Director and Group CEO, will be able to nominate himself to the board as long as he holds a senior management position or has a pre-defined absolute number of equity shares (67.7 mn). Lakshmi Nandan Reddy Obul, co-founder and Whole time Director – Head of Innovation, will be able to nominate himself to the board as long as he is a permanent employee or has a pre-defined absolute number of equity shares (16.9 mn). Given the low threshold, we do not support the board nomination rights to the above shareholder groups.
    10 for10 against
  • Ratification of Swiggy Employee Stock Options Plan 2024
    Against 360 One Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Tata Mutual Fund, UTI Mutual Fund
    • 360 One Mutual Fund, Bandhan Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations 2021: Inadequate disclosures regarding the Exercise Price/Pricing Formula and Exercise Period under the Scheme. Governance & Transparency Concern: Potential maximum benefit to a single employee is excessive, No clarity on how adjustments will be made in cases of rights issue.
    • Aditya Birla Sun Life Mutual FundThe overall dilution of the scheme for 107,371,316 options is ~4.58% on the expanded capital base as on 12 November 2024. It is not clear if the vesting of options is time based, or performance based (performance metrics not disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.81% on the current market price (Rs. 543.5 as on 03 January 2025). Although we’re in favor of incentivizing employees with ESOPs, the dilution in this case is higher. Thus we, don’t support the resolution
    • Axis Mutual FundThe overall dilution of the scheme for 107,371,316 options is ~4.58% on the expanded capital base as on 12 November 2024. It is not clear from the notice if the vesting of options is time based, or performance based (performance metrics not disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.81% on the current market price (Rs. 543.5 as on 10 December 2024). ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Hence, We do not support the resolution.
    • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the current market price. • The proposal includes grant of units to employees of associate companies without a compelling rationale. • The plan provides for accelerating the vesting period which is generally not considered a good market practice.
    • Invesco Mutual Fund, Sundaram Mutual FundThe overall dilution of the scheme for 107,371,316 options is ~4.58% on the expanded capital base as on 12 November 2024. It is not clear from the notice if the vesting of options is time based, or performance based (performance metrics not disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.81% on the current market price (Rs. 543.5 as on 10 December 2024). We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe as a good practice companies should grant stock options at market price, or the options should have a performance-based vesting with clearly defined performance metrics
    • Kotak Mahindra Mutual FundThe Company is seeking shareholders approval for the ratification of Swiggy Employee Stock Options Plan 2024 ( ESOP 2024 or Scheme ). According to the Part C of Schedule I of SEBI Regulations, 2021, the company must disclose the exercise price or the formula in the explanatory statement. Since the company has not provided any disclosure on the same, voting against. Moreover, the company has mentioned that the Exercise Price shall not be less than the face value per share (Re. 1). If granted at face value, it represents a discount of 99.81% on the current market price (Rs. 543.5 as on 10 December 2024). We do not favour schemes where the exercise price is at a significant discount to market price.
    • Nippon India Mutual FundInadequate Disclosure
    • Tata Mutual FundAs discussed with the company, ESOP may get issued at face value which in our opinion would be at very deep discount to the market price (~Rs. 550). Also, The Company had placed an absolute cap on the maximum number of options that can be granted to a single employee to be an aggregate limit of 1% of the issued capital of the Company which can amount to ~Rs. 1,200cr. Though this is in compliance with SEBI regulation and company is departing from time based grant to stock price appreciation based grants, we vote against the resolution considering deep discounted ESOPs and potential maximum benefit to single employee.
    • UTI Mutual FundThe overall dilution of the scheme for 107,371,316 options is ~4.58% on the expanded capital base as on 12 November 2024. It is not clear from the notice if the vesting of options is time based, or performance based (performance metrics not disclosed). The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) and shall not be less than the face value per share (Re. 1).
    8 for11 against
  • Ratification of the extension of the benefits of Swiggy Employee Stock Options Plan 2024 to the employees of subsidiary companies and group companies of the Company
    Against 360 One Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mahindra Manulife Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Tata Mutual Fund, UTI Mutual Fund
    • 360 One Mutual Fund, Bandhan Mutual Fundon-Compliant with SEBI (SBEB & SE) Regulations 2021: Linked with resolution #2. Governance & Transparency Concern: Potential maximum benefit to a single employee is excessive, Extension of scheme to employees of group / associate company without compelling reasons / cost not reimbursed to the Company.
    • Aditya Birla Sun Life Mutual FundThrough resolution #3, the company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies including holding company and associate company. Our view on this resolution is linked to our view on resolution #2. We don't support the resolution
    • Axis Mutual Fund, UTI Mutual FundThrough resolution #3, the company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies including holding company and associate company. Our view on this resolution is linked to our view on resolution #2.
    • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the current market price. • The proposal includes grant of units to employees of associate companies without a compelling rationale. • The plan provides for accelerating the vesting period which is generally not considered a good market practice.
    • Invesco Mutual FundThe company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies including holding company and associate company. We do not support the extension of ESOP schemes to associate companies. The companies must specifically list the type of group companies covered. We do not support the resolution
    • Kotak Mahindra Mutual FundThis resolution is linked to resolution no. 2 whereby the company has not disclosed the exercise price or the formula for the ESOP plan in the explanatory statement. Hence, Voting Against.
    • Mahindra Manulife Mutual FundThrough resolution #3, the company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies including holding company and associate company. We do not support the extension of ESOP schemes to associate companies. The companies must specifically list the type of group companies covered. We do not support the resolution.
    • Nippon India Mutual FundPotential maximum benefit to a single employee is excessive.
    • Sundaram Mutual FundThrough resolution #3, the company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies including holding company and associate company. Our view on this resolution is linked to our view on resolution #2. Further, we do not support the extension of ESOP schemes to associate companies. The companies must specifically list the type of group companies covered. We do not support the resolution.
    • Tata Mutual FundThough we do not have concern in extension of the benefits of Swiggy Employee Stock Options Plan 2024 to the employees of subsidiary companies and group companies of the Company, we vote against the agenda as our view is linked to our view on resolution #2.
    7 for12 against
2 proposals not matched to one resolution
  • To Authorize Board of Directors to create, grant, offer, issue, re-issue and allot in one or more tranches under Swiggy ESOP Plan 2024, at any time to or for the benefit of the eligible employees of the Company, the total number of 10,73,71,316 unallocated / ungranted Options, that were outstanding as on April 10, 2024, under the Swiggy Employee Stock Option Plan 2015 can be granted, which on exercise would not entitle for more than 10,73,71,316 equity shares (subject to adjustments), at such price and on such terms and conditions as may be fixed or determined by the NRC under the Swiggy ESOP Plan 2024MoreLess
    Against Helios Mutual Fund
    • Helios Mutual Fundon-Compliant with SEBI (SBEB & SE) Regulations 2021: Linked with resolution #2. Governance & Transparency Concern: Potential maximum benefit to a single employee is excessive, Extension of scheme to employees of group / associate company without compelling reasons / cost not reimbursed to the Company.
    0 for1 against
  • To Authorize Board of Directors to create, grant, offer, issue, re-issue and/or allot in one or more tranches under Swiggy ESOP Plan 2024, at any time to or for the benefit of the eligible employees of the Company, the total number of 10,73,71,316 unallocated / ungranted Options, that were outstanding as on April 10, 2024, under the Swiggy Employee Stock Option Plan 2015 can be granted, which on exercise would not entitle for more than 10,73,71,316 equity shares (subject to adjustments)MoreLess
    Against Helios Mutual Fund
    • Helios Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations 2021: Inadequate disclosures regarding the Exercise Price/Pricing Formula and Exercise Period under the Scheme. Governance & Transparency Concern: Potential maximum benefit to a single employee is excessive, No clarity on how adjustments will be made in cases of rights issue.
    0 for1 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyDistrict Consumer Disputes Redressal Commission,MADURAISince 16 Sep 2026

    Pay Rs. 10000/- as compensation for mental agony and Rs. 10000/- for litigation cost . 9% interest refund of INR 670/- and pay INR 10,000/- as compensation for inconvenience and mental agony and INR 10,000/- towards costs of litigation

    DELAY IN DELIVERY AND MISBEHAVIOUR BY THE DELIVERY PERSONNEL.
  • Tax disputeJoint Commissioner (state tax) Anti-evasion, RajasthanSince 10 Jul 2020
    Appeal filed. Hearing awaited
  • Tax disputeAdditonal Commissioner, State Tax GujaratSince 16 Jun 2020
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Service Tax, BangaloreSince 22 Jul 2024
    Appeal filed before tribunal
  • Tax disputeJoint commissioner (Appeals), KarnatakaSince 2 Dec 2023
    The Company has filed a writ before the Hon'ble Karnataka High Court. Stay granted on recovery of taxes. Hearing on merit matter is yet to be listed
  • Tax disputeJoint commissioner (Appeals), Tamil NaduSince 24 Jan 2024
    Appeal filed before tribunal
    At the filing before: Appeal dismissed before 1st Appellate authority. Appeal to be filed before GSTAT , once the same shall be formed
  • Tax disputeJoint commissioner (Appeals), Tamil NaduSince 14 Aug 2023
    Appeal filed before tribunal
    At the filing before: Appeal dismissed before 1st Appellate authority. Appeal to be filed before GSTAT , once the same shall be formed
  • Tax disputeJoint commissioner (Appeals), ChhattisgarhSince 8 Feb 2023
    Appeal filed before tribunal
    At the filing before: Appeal partially dismissed before the 1st Appellate authority. Appeal to be filed before GSTAT, once the same is formed
16 more
  • Tax disputeCommissioner of Income-tax (TDS)Since 31 Mar 2024
    Appeal filed. Hearing awaited
  • Tax disputeJoint commissioner (Appeals), KarnatakaSince 8 Apr 2024
    Rectified appeal order passed with relief. Appeal will be filed for the remaining amount before the tribunal
    At the filing before: Appeal order passed with partial relief. Appeal will be filed before the tribunal agaisnt this order. Rectification application also filed
  • Tax disputeAdditonal Commissioner, State tax GujaratSince 29 Aug 2024
    Appeal filed. Hearing awaited
  • Tax disputeAdditional Commissioner, Central TaxSince 26 Dec 2023
    The Company has filed a writ before the Hon'ble Karnataka High Court. Stay has been granted
  • Tax disputeCommissioner of Income-tax (TDS)Since 25 Mar 2025
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income-tax (TDS)Since 26 Mar 2025
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income-tax (TDS)Since 26 Mar 2025
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income TaxSince 29 Mar 2025
    Appeal filed. Hearing awaited
  • Tax disputeDeputy Commissioner, State tax, Uttar PradeshSince 10 Aug 2025
    Appeal filed. Hearing awaited
  • Tax disputeDeputy Commissioner, State Tax, Tamil NaduSince 20 Dec 2025
    Appeal filed. Hearing awaited
  • Tax disputeDeputy Commissioner, State Tax, KarnatakaSince 29 Dec 2025
    Appeal filed. Hearing awaited
  • Tax disputeDeputy Commissioner, State tax, Uttar PradeshSince 30 Dec 2025
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income-tax (TDS)Since 11 Mar 2026
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income-tax (TDS)Since 11 Mar 2026
    Appeal filed. Hearing awaited
  • Tax disputeCommissioner of Income TaxSince 20 Mar 2026
    Appeal filed. Hearing awaited
  • Tax disputeDeputy Commissioner, State tax, UttarakhandSince 8 Jun 2026
    Appeal filed. Hearing awaited
    At the filing before: Appeal to be filed

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 7 complaints open, quarter to Dec 2024.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Sep 2026.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Investment in our Material Subsidiary Scootsy for repayment or pre payment in full or in part of certain or all of its borrowings164.80164.80No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Expansion of our Dark Store network for our Quick Commerce segment through setting up of Dark Stores755.40669.43No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Making lease license payments for Dark Stores423.30209.59No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Investment in technology and cloud infrastructure703.40693.76No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of our platform across our segments1,115.301,115.30No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Funding inorganic growth through unidentified acquisitions and general corporate purposes1,196.781,142.05No
Public IssuesNov 2024, checked by Crisil Ratings Limited4,499.00Expenses in relation to the Fresh Issue140.02140.02No
QIPDec 2025, checked by CRISIL RATINGS LIMITED10,000.00Investment in the expansion, and operations of our quick commerce fulfilment network, including dark stores and warehouses4,475.00207.07No
QIPDec 2025, checked by CRISIL RATINGS LIMITED10,000.00Investment in technology and cloud infrastructure985.00106.95No
QIPDec 2025, checked by CRISIL RATINGS LIMITED10,000.00Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of our platform, across our segments2,340.00508.67No
QIPDec 2025, checked by CRISIL RATINGS LIMITED10,000.00Funding inorganic growth through unidentified acquisitions and general corporate purposes2,118.641,233.71No
QIPDec 2025, checked by CRISIL RATINGS LIMITED10,000.00Estimated Offer expense pertaining to fresh issue81.3667.03No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.