Delhivery Founder Sahil Barua Quits Swiggy’s Board

Logistics major Delhivery’s founder and CEO Sahil Barua has resigned from the position of Swiggy’s independent director, citing increased professional commitments. 

In an exchange filing, Swiggy said Barua will be stepping down from the company’s board after the close of business hours on April 11. 

“… Due to my increased professional commitments in my role as the Chief Executive Officer of Delhivery Limited, I find myself unable to dedicate the necessary time and attention required to fulfill my responsibilities as an independent director on your board. I believe it would be in the best interest of the company for me to step down and allow someone who can devote the requisite time and focus to take on this responsibility,” said Barua in his resignation letter.

The filing added that there are no material reasons for Barua’s resignation other than those mentioned in his resignation letter. 

The development comes almost a week after Delhivery announced that it would acquire 99.4% stake in its rival Ecom Express for INR 1,407 Cr. 

Barua joined Swiggy’s board in February 2023 as the company was preparing for its IPO. 

“Sahil was one of the first independent members of Swiggy’s board, and has played a meaningful role in the company’s journey as we’ve scaled and transitioned into the public markets,” said Anand Kripalu, chairperson of Swiggy’s board. 

Swiggy went public in November last year, listing at the price of INR 412 on the BSE, a premium of 5.6% over the IPO price of INR 390. 

However, the stock has been under selling pressure following its listing amid the broader decline in the Indian stock market. Besides, the slowdown in food delivery growth and rising cash burn due to rapid expansion and rising competition in the quick commerce segment has also hurt Swiggy.

In the third quarter of the financial year ended March 2025 (Q3 FY25), the company’s consolidated net loss widened 39.1% to INR 799 Cr from INR 574.4 Cr in the year-ago quarter. However, operating revenue rose about 31% to INR 3,993.1 Cr from INR 3,048.6 Cr in Q3 FY24.

Shares of Swiggy ended today’s trading session 2.02% lower at INR 332.7 on the BSE.