could face passive fund outflows of around $400 million as the company moves towards becoming an Indian-owned and controlled company (IOCC). What’s Happening? Brokerage house Jefferies estimates that Swiggy could be removed from major global indices such as MSCI and FTSE if its ownership classification changes. That could trigger forced selling by passive funds and index trackers, creating additional supply pressure on the stock. Why Does It Matter? The interesting part is that this potential outflow is not necessarily linked to Swiggy's business performance. It is primarily an index-classification and ownership issue. Swiggy has been moving towards Indian ownership, with foreign ownership falling below 50%. The strategic benefit is that IOCC status could give its quick-commerce business greater flexibility in operating under the inventory model.

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