CAM, SAM, AZB, JSA and Latham act on Swiggy's ₹ 11,327.4 crore IPO

Online food delivery and quick commerce giant Swiggy Ltd’s Initial Public Offering (IPO)  is set to open for bidding from November 6 and end on November 8. The allotment is expected to be finalised by November 11 and the shares are likely to be listed in the market on November 13. 

The company seeks to raise ₹ 11,327.4  crore from the market through a fresh issue of 11.54 crore shares, valued at ₹ 4,499 crore, along with an offer-for-sale of 17.51 crore shares, totalling ₹ 6,828.4 crore. The issue price is expected to be between ₹ 371 to ₹ 390.

Once listed, Swiggy will be the second food delivery and quick commerce company to have gone for an IPO after Zomato in 2021. However, Swiggy issue size is larger than Zomato's ₹ 9,375 IPO.

Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, AZB & Partners, JSA and Latham & Watkins advised Swiggy and other stakeholders in this IPO.

CAM, which acted for Swiggy, was led by Yash J. Ashar (Senior Partner), Gokul Rajan (Partner, Regional Head Markets Practice (Northern Region)), Rushab S. Dhandokia (Principal Associate), Harshvardhan Lahiri (Associate), Indira Satish (Associate), Adwait Deshmukh (Associate), Urmil Shah (Associate) and Lajja Mehta (Associate).

SAM, which acted for Swiggy's largest shareholder, Prosus was led by Prashant Gupta (Partner and Head - Capital Markets) and comprised Ruth Chenchiah (Partner), Sanjana Chowdhary (Principal Associate) .

AZB & Partners, which acted for the bankers, was led by its senior partner and head of capital markets Varoon Chandra.

JSA acted for three of the selling shareholders. The team comprised Partners Arka Mookerjee, Pracheta Bhattarchaya, and Senior Associate Sourav Modi.

Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities are serving as the book-running lead managers for the Swiggy IPO. Link Intime India Private Ltd is the registrar for the IPO.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.