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IPO-bound Swiggy appoints Suparna Mitra as an independent director

EntrackrEntrackr · 1y ago
IPO-bound Swiggy appoints Suparna Mitra as an independent director
Medial

Swiggy has announced the appointment of Suparna Mitra as an independent director to its board. The move comes at a time when the Prosus-backed foodtech company is readying itself for public listing. Mitra, who was the CEO of Titan Company Limited’s Watches and Wearables Division, brings over 30 years of experience in lifestyle and retail. Mitra has joined Swiggy’s distinguished list of independent directors that includes Anand Kripalu, MD & Global CEO at EPL Limited and Chairperson of the Swiggy board, Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates, and Sahil Barua, MD and CEO at Delhivery. Swiggy has seen a few key executives’ departures at the management of late. Some of the notable executives who have left the firm since April last year are Karan Arora (VP and head of supply chain management), Nishad Kenkre (VP and head of revenue and growth at Instamart), Ashish Lingamneni (VP and head of brand and product marketing), Dale Vaz, chief technology officer, and senior VP Karthik Gurumurthy. Meanwhile, it has also announced new appointments such as Ashwath Swaminathan as its chief growth & marketing officer and Anirban Roy and Dipak Krishnamani as VP of Growth and VP of Swiggy Mall, respectively. As mentioned above, the foodtech firm is in the process to file its IPO papers soon. According to Entrackr‘s exclusive report, Swiggy booked Rs 5,476 crore in revenue from operations during the first three quarters of financial year FY23. The company recorded $200 million (approximately Rs 1,600 crore) loss for the nine months.

Sahil Barua resigns from Swiggy board due to professional commitments

EntrackrEntrackr · 5m ago
Sahil Barua resigns from Swiggy board due to professional commitments
Medial

Swiggy announced on Friday that Sahil Barua, an Independent Director on the company's board, has resigned with effect from April 11, 2025. The resignation comes in light of Barua’s increased professional commitments, according to a regulatory filing made by the company. Barua, who is also the Co-founder and CEO of logistics firm Delhivery, was one of the earliest independent members of Swiggy’s board and had been associated with the company during a crucial phase of its growth and transition into the public markets. “I'd like to thank Swiggy for inviting me to serve as part of the Board. Swiggy is one of the great Indian internet companies, with outstanding founders and management. I look forward to cheering for Harsha and the Swiggy team as a user and well-wisher,” said Barua. Swiggy’s independent board of directors includes Anand Kripalu, Shailesh Haribhakti, and Suparna Mitra.

IPO-bound Swiggy converts itself into a public entity

EntrackrEntrackr · 1y ago
IPO-bound Swiggy converts itself into a public entity
Medial

Foodtech and quick commerce decacorn Swiggy has converted into a public entity, as per the resolution passed by the board of directors of the company with the Registrar of Companies. This marks the company’s concrete step towards a definitive IPO plan in the second half of this year. The name of the holding company has been changed from Swiggy Private Limited to Swiggy Limited. In February, Bundl Technologies Private Limited changed its name to Swiggy Private Limited. The company said that will help it to establish greater proximity and identification of the company’s corporate name with the company’s core brand. Swiggy has been readying itself for public listing for quite some time and the Bengaluru-based firm may file IPO papers soon. As per media reports, the company will seek a valuation in the range of $12-15 billion. The firm recently appointed Suparna Mitra as an independent director to its board. While Swiggy claimed that its food delivery business turned profitable as of March 2023, the firm reported Rs 4,179 crore in overall loss during FY23. Moreover, the company booked Rs 5,476 crore in revenue from operations during the first three quarters of the financial year FY24 and recorded $200 million (approximately Rs 1,600 crore) loss for the nine months. Entrackr had exclusively reported about Swiggy’s financial three quarters (FY24) numbers in the last week of March. Last month, US-based asset management firm Baron Capital marked up the valuation of Swiggy to $12.1 billion up from $10.7 billion during the last fundraise in January 2022. It’s one of the few IPO-bound companies that saw back to back valuation markup by early investors.

Bessemer Venture Partners appoints Pankaj Mitra as Partner

EntrackrEntrackr · 4m ago
Bessemer Venture Partners appoints Pankaj Mitra as Partner
Medial

Bessemer Venture Partners appoints Pankaj Mitra as Partner Bessemer Venture Partners has welcomed Pankaj Mitra as a Partner in its India team. Mitra will lead investments in AI, enterprise-tech, and cybersecurity as Bessemer doubles down on its India strategy. He joins from Cisco’s corporate development team, where he led global investments and M&A for the Customer Experience portfolio. His track record includes notable bets on Fiddler, Uniphore, and Whatfix. Previously, he helped launch Infosys’s $500 million innovation fund, investing in companies like Ideaforge and Whoop. He began his career at VMware and Deloitte, bringing a rare combination of product, strategy, and venture experience. “The ongoing AI platform shift offers a once-in-a-generation opportunity. I’m excited to partner with ambitious founders driving this evolution,” said Mitra. This appointment follows Bessemer’s announcement of its $350 million second India fund, with a focus on AI, fintech, enterprise, digital health, consumer, and cybersecurity. The firm has backed companies like Swiggy, Urban Company, Mediassist, Perfios, and recently Boldfit, Easebuzz, Protectt, Shopdeck, among others.

Tata Electronics appoints Bobby Mitra as CIO, president of AI & digital transformation

Economic TimesEconomic Times · 12m ago
Tata Electronics appoints Bobby Mitra as CIO, president of AI & digital transformation
Medial

- Bobby Mitra has been named the new Chief Information Officer (CIO) and President of AI and Digital Transformation at Tata Electronics. - Mitra will drive enterprise-wide initiatives in AI and digital transformation for Tata Electronics' various businesses, including electronic manufacturing services, semiconductor assembly and test, semiconductor foundry, and design services. - His focus will be on advancing Tata Electronics' commitment to AI-led manufacturing, especially in establishing India's first semiconductor fab in Dholera, Gujarat, and the first indigenous semiconductor assembly and test facility in Jagiroad, Assam. - Tata Electronics aims to extensively utilize automation, AI solutions, and digital platforms in its manufacturing facilities. - Mitra brings extensive experience in the semiconductor industry, having held leadership roles at companies like Texas Instruments and Deloitte Consulting. - As a Fellow of the IEEE and the Global Chair of SEMI Smart Manufacturing, Mitra has contributed significantly to the field of smart manufacturing and digital ecosystems.

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