Swiggy's compliance officer M Sridhar resigns within a year
Sridhar, who resigned from Swiggy citing personal reasons, will be associated with the company till February 17, 2025.
Quick commerce and food delivery player has announced the resignation of M Sridhar, Company Secretary and Compliance Officer, due to personal reasons.
In a filing made with exchanges on Wednesday evening, Swiggy notified that Sridhar will be relieved from the services on February 17, 2025.
Swiggy, which is set to release its third quarter results next week, did not immediately disclose who will replace Sridhar.
Sridhar Muthukrishnan, who joined Swiggy just around a year ago, was associated with companies like Prestige Group, Divyasree Developers, and Himatsingka Seide.
Just two day ago, the Sriharsha Majety-led company announced the allotment of 2.61 crore equity shares for its Employee Stock Option Scheme (ESOP) 2015 and 2021.
It announced the share allotment worth Rs 1,153.62 crore, set at the opening price of its shares on Monday, Rs 442 apiece. Following the allotment, the company's paid-up share capital increased from Rs 2.23 crore to Rs 2.26 crore.
In July 2024, as it was gearing up for an IPO, Swiggy announced a liquidity event of stocks worth up to $65 million (Rs 543.5 crore) granted under its ESOP plan.
In a separate filing made earlier this month, Swiggy received approval from the Ministry of Corporate Affairs (MCA) to incorporate Swiggy Sports Pvt. Ltd., a new unit under company Swiggy. The development comes on the heels of the foodtech giant acquiring Mumbai Pickle Power Pickleball team with Rishabh Pant.
Edited by Megha Reddy