The species was first described in the journal Mycotaxon in 2009, based on collections made on the campus of the University of Calicut in November 2004.

[1] Fruit bodies have caps that are initially egg-shaped before expanding to become conical or convex and eventually flat, ultimately attaining a diameter of 0.5–2.4 cm (0.20–0.94 in) wide.

The stem is roughly cylindrical, hollow, and measures 1.5–3.2 cm (0.6–1.3 in) long by 1.5–4 mm (0.059–0.157 in) thick.

The surface texture is fibrillose (as if made of smooth, silky fibers), and has tiny, pressed-down scales.

[1] The fruit bodies of Lepiota shveta grow singly or scattered on the ground and in decaying leaf litter.