Cross-border team acts as sole international counsel on India’s second-largest initial public offering of the year.
Latham & Watkins has advised as sole international counsel on Swiggy’s US$1.35 billion initial public 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, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited, and Avendus Capital Pvt. Ltd. served as the book running lead managers for the IPO.
This transaction marks India’s second-largest initial public offering in 2024, following Hyundai Motor India’s US$3.3 billion IPO, which Latham also advised on.
The Latham team was led by Singapore partner Rajiv Gupta and Washington, D.C. partner Nicholas Boyle, with Singapore associates Esha Goel and Kay Howe Lee. Advice on U.S. tax matters was provided by Chicago partner Rene de Vera and New York partner Jiyeon Lee-Lim, with associate Shangpu (Nicholas) Sun; on 1940 Act matters by Chicago partner Laura Ferrell, with Boston counsel Joel Cavanaugh; on ERISA matters by Los Angeles partner David Taub; and on sanctions matters by Washington, D.C. partner Les Carnegie.
