Stocks in Focus: Swiggy Drops Over 3% Amid Co-founder Exit and Board Reshuffle

Swiggy Ltd.’s shares fell over 3 per cent in early trade on Monday. The decline followed the resignation of co-founder Nandan Reddy. He stepped down from the board on April 10, 2026. He plans to pursue independent projects.

Reddy spent 12 years building Swiggy. He helped the company navigate the 2015-16 food-tech slowdown.

The company also announced other key exits. Mr Roger Clark Rabalais resigned as Nominee Director. Mr Lakshmi Nandan Reddy Obul stepped down as Whole-Time Director and Head of Innovation. Both exits are effective April 10, 2026.

In a move aimed at strengthening its leadership structure, Swiggy has made fresh appointments. Renan De Castro Alves Pinto joined as an Additional Director from April 11, 2026. He is a Non-Executive, Non-Independent Director and nominee of MIH India Food Holdings B.V.

Further, the company has announced the appointment of Phani Kishan Addepalli and Rahul Bothra as Additional Directors, effective June 1, 2026.

About Swiggy Ltd

Swiggy Ltd is one of India’s leading on-demand food delivery and quick commerce platforms. It connects customers with restaurants and local stores through a single app.

The company offers food delivery across 700+ cities. It also runs Instamart for fast grocery delivery. Other services include dining reservations, parcel delivery, and event bookings. Swiggy focuses on convenience and speed. It aims to meet everyday needs through a single, easy-to-use platform.

Swiggy Ltd Share Price Performance

As of early trade at 10:43, Swiggy shares were trading at Rs 265.65. This marks a decline of Rs 9.35, or 3.40 per cent. The stock opened at Rs 266.20. It touched a high of Rs 268.25 and a low of Rs 262.85 during the session. The previous close stood at Rs 275.00.

On a year-to-date (YTD) basis, the stock is down 31.52 per cent. Over the past one year, it has declined 19.65 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.