Swiggy Shares in Focus: Nandan Reddy Steps Down from Board

On April 13, 2026, Swiggy share price as much as 4%, reaching a day low of ₹263.00 at 10:00 AM after opening at ₹266.75 on BSE. The drop in Swiggy share price came after the announcement of exit of Nandan Reddy from the board of Swiggy to pursue independent ventures, marking a significant leadership transition at the company.

Board Approves New Executive Directors

The development comes alongside a series of board-level changes disclosed by Swiggy on Friday, April 10. The company said its board has approved the appointment of co-founder Phani Kishan and Group CFO Rahul Bothra as executive directors, effective June 1, 2026, subject to shareholder approval.

Leadership Backed by Strong Internal Experience

Commenting on the appointments, Group CEO Sriharsha Majety said both leaders have been integral to Swiggy’s journey since its early days. He noted that their deep understanding of the business, along with a strong focus on innovation and execution, has helped shape the company’s growth and will remain crucial as it enters its next phase.

Reddy’s exit marks the close of an important chapter for Swiggy. He played a pivotal role in building the company from its early days in Bengaluru into a nationwide on-demand services platform.

Also Read: SEBI Extends Broad-Based Norms to AIFs Managed by AMCs

Plans Beyond Swiggy

In his resignation letter, Reddy said he plans to explore new opportunities and dedicate time to areas of long-standing personal interest. Majety described him as a “visionary force,” adding that his influence on Swiggy’s culture, innovation, and consumer experience remains deeply ingrained in the organisation.

Swiggy also announced the induction of Renan De Castro Alves Pinto from Prosus Ventures as a nominee director, replacing Roger Rabalais.

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