business100news.com: Swiggy Limited, India;s pioneering on-demand convenienceplatform (the “Company”), proposes to open its initial public offering (“Offer”) onWednesday, 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 ₹ 371 per Equity Share to ₹ 390 per EquityShare. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 EquityShares thereafter.
The Offer comprises of a Fresh Issue of Equity Shares aggregating up to ₹ 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 ₹1 each,aggregating up to ₹[•] million, for subscription by eligible employees not exceeding 5% ofour post-offer paid-up equity share capital (the “Employee Reservation Portion”). The Offerless 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 onBSE 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 SEBIICDR Regulations. This Offer is being made through the Book Building Process in compliancewith Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net
Offer shallbe 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 AnchorInvestors 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, subjectto valid Bids being received from domestic Mutual Funds at or above the price at whichEquity 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 theQIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of theNet 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 aproportionate 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 NetOffer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will berefunded 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 FundPortion 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 withapplication size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds of theportion shall be reserved for NIBs with application size of more than ₹1,000,000, providedthat the unsubscribed portion in either of such sub-categories may be allocated to Biddersin other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to validBids being received above the Offer Price and not more than 10% of the Net Offer shall beavailable for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDRRegulations, subject to valid Bids being received from them at or above the Offer Price.
Further, Equity Shares will be allocatedon 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. AllBidders (except Anchor Investors) are required to mandatorily utilise the ApplicationSupported by Blocked Amount (“ASBA”) process by providing details of their respectiveASBA accounts and UPI ID (in case of UPI Bidders (defined hereinafter) using the UPIMechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs orunder the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are notpermitted to participate in the Anchor Investor Portion of the Offer through the ASBAprocess. For details, see “Offer Procedure” beginning on page 445 of the Red HerringProspectus.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, CitigroupGlobal Markets India Private Limited, BofA Securities India Limited, Jefferies India PrivateLimited, ICICI Securities Limited and Avendus Capital Private Limited are the book runninglead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.Terms used but not defined herein shall have the meaningassigned to such terms as defined in the RHP.
