People · Commerce & Consumer Brands

Swiggy cofounder Nandan Reddy steps down

By Startup Enthusiast · 1 April 2026

What they do

Swiggy operates food delivery and quick commerce (Instamart) in India

Cofounder Nandan Reddy resigns as director; Phani Kishan and Rahul Bothra join the board

Reddy holds about 1% stake and leaves to start a new venture, while Swiggy faces Instamart losses

Swiggy cofounder Nandan Reddy steps down from his executive role and board, effective April 10, 2026.
Reddy, who was head of innovation, resigns as Whole-Time Director to pursue independent projects.
Phani Kishan Addepalli, cofounder and chief growth officer, is appointed executive director effective June 1, 2026, subject to shareholder approval.
Rahul Bothra, group CFO, is also appointed executive director effective June 1, 2026, subject to shareholder approval.
Renan De Castro Alves Pinto of Prosus Ventures joins the board as nominee director, replacing Roger Rabalais.
Swiggy amends its articles of association to remove Accel and SoftBank rights to nominate directors.
Group CEO Sriharsha Majety is granted the right to nominate himself and one senior management member to the board.
Reddy's role leading the concierge app Crew is taken over by Rohit Kapoor, food marketplace CEO.

Reddy holds about 1% of Swiggy and leaves to start his own venture.
Swiggy's Q3FY26 loss was Rs 1,065 crore, with Instamart loss rising to Rs 791 crore from Rs 528 crore a year ago.
JM Financial downgraded Swiggy to Reduce from Add, cutting target price to Rs 270 from Rs 370.
JM Financial said Instamart is caught in a growth-versus-profitability deadlock and may destruct value.
JM Financial suggested the best outcome for investors is a larger player acquiring Swiggy.

Swiggy is an Indian food delivery and quick commerce platform founded in 2014.
It operates food delivery and Instamart (quick commerce delivering groceries in minutes).
Swiggy went public via an IPO in November 2024.
Its quick commerce competitors include Blinkit, Zepto, and large ecommerce players.
Swiggy's share price on April 10, 2026 was Rs 274.90 on BSE, up 1.1%.
On April 13, 2026, the stock hit an intraday low of Rs 262.85, down over 4%.
Swiggy's 52-week low is Rs 256.70.

Nandan Reddy will start his own venture.
Phani Kishan Addepalli and Rahul Bothra will join the board as executive directors on June 1, 2026.
Rohit Kapoor takes over Reddy's role leading the Crew app.

Accel (existing) — Held **2.8%** stake in Swiggy as of December 31; lost right to nominate director.
SoftBank (existing) — Owned **6.3%** stake in Swiggy as of December 31; lost right to nominate director.
Prosus Ventures (existing) — Renan De Castro Alves Pinto joins board as nominee director.

Nandan Reddy, Cofounder (departing)
Sriharsha Majety, Group CEO
Phani Kishan Addepalli, Cofounder, Chief Growth Officer (incoming executive director)
Rahul Jaimini, Cofounder (exited)