MSCI to drop Swiggy from global indices on September 7
Global index providers MSCI and FTSE are set to revise Swiggy's index treatment shortly. MSCI is removing Swiggy from global indices, which will lead to considerable passive outflows. Additionally, FTSE has modified Swiggy's investability weight due to foreign ownership limits. Together, these alterations are projected to trigger passive outflows surpassing $350 million, causing Swiggy shares to…
Global index providers MSCI and FTSE announced changes to Swiggy's index treatment on September 7, after the company's foreign ownership limit was reduced from 100% to 49.5%. MSCI will delete Swiggy from its global indices, potentially causing passive outflows of around $330 million. FTSE changed Swiggy's investability weight, with the adjustment taking effect at the start of trading on September 7.
Swiggy was previously flagged by depositories NSDL and CDSL due to its foreign investment levels. The company capped its aggregate foreign ownership at 49.5% to qualify as an Indian-owned and controlled company. These changes could result in significant outflows for passive investors.
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- MSCI to drop Swiggy from global indices on September 7 economictimes.indiatimes.com
