Swiggy Limited’s Initial Public Offering To Open on Nov 6-8, 2024; Price Band Fixed From Rs 371 To Rs 390 Per Equity Share

*  Price Band fixed at Rs  371 per equity share to Rs 390 per equity share of the face value of Rs 1 each (“Equity Shares”) of Swiggy Limited (the “Company”)

* Anchor Investor Bidding Date – Tuesday, November 05, 2024

* Bid /Offer Opening Date – Wednesday, November 06, 2024, and Bid/ Offer Closing Date – Friday, November 08, 2024

* Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter

* For further details, please also see price band advertisement shared as an attachment or view price band advertisement published in Financial Express newspaper dated October 30, 2024 on  page no 26.

Swiggy Limited, India's pioneering on-demand convenience platform (the “Company”), proposes to open its initial public offering (“Offer”) on Wednesday, November 06, 2024. Bid/ Offer Closing Date will be Friday, November 08, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Tuesday, November 05, 2024. 

The Price Band of the Offer has been fixed from Rs 371 per Equity Share to Rs 390 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

The Offer comprises of a Fresh Issue of Equity Shares aggregating up to Rs  44,990 million (the “Fresh Issue”) and an offer for sale of up to 175,087,863 equity shares  (the “Offer for Sale”) by the Selling Shareholders. .

The Offer includes a reservation of up to 750,000 equity shares of face value of Rs 1 each, aggregating up to Rs [•] million, for subscription by eligible employees not exceeding 5% of our post-offer paid-up equity share capital (the “Employee Reservation Portion”). The Offer less the Employee Reservation Portion is hereinafter referred to as the Net Offer.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

This is an Offer in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”) provided that our Company and Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares will be allocated to the Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) of which (a) one third portion shall be reserved for NIBs with application size of more than Rs 200,000 and up to Rs 1,000,000; and (b) two-thirds of the portion shall be reserved for NIBs with application size of more than Rs ,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received above the Offer Price and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated

on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders (defined hereinafter) using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 445 of the Red Herring Prospectus.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited and Avendus Capital Private Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.

Terms used but not defined herein shall have the meaning assigned to such terms as defined in the RHP.