Latham Advises on Swiggy’s US$1.1 Billion Follow-On Offering

Latham & Watkins is advising the book running lead managers as sole international counsel on Swiggy Limited’s US$1.1 billion follow-on offering on the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE).

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, and Citigroup Global Markets India Private Limited were the book running lead managers on the transaction.

This transaction follows a run of Indian IPOs Latham has advised on in recent weeks, including Meesho’s US$604 million IPO, Tenneco Clean Air’s US$406 million IPO, PhysicsWallah’s US$393 million IPO, Pine Labs Limited’s US$440 million IPO, Groww's US$748 million IPO, Tata Capital's US$ 1.75 billion IPO, the largest IPO in India to date this year, and LG Electronics' US$1.3 billion IPO, the third largest IPO in India to date this year.

Latham also previously advised Swiggy on its US$1.35 billion IPO in November 2024.

The Latham team was led by Singapore partner Rajiv Gupta, with associates Esha Goel and Nathanael Po. Advice was also provided on tax matters by Chicago partner Rene de Vera.

ABOUT SWIGGY

Swiggy is India’s pioneering on-demand convenience platform, catering to millions of consumers each month. Founded in 2014, its mission is to elevate the quality of life for the urban consumer by offering unparalleled convenience.

ABOUT LATHAM’S INDIA PRACTICE

With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi award-winning practice comprises more than 50 lawyers globally, and the team has advised on India-related matters with a combined value in excess of US$100 billion since 2018.