Swiggy CCPS Conversion Notice: Key Dates and Process Overview

09 October 2024

Swiggy is converting its Compulsorily Convertible Preference Shares into equity shares. Here are the key details and timelines:

• 15th October 2024: Shareholders will receive a final notification from Swiggy regarding the commencement of the conversion process. This notice will provide comprehensive instructions and information about the upcoming steps.
• 15th - 26th October 2024: Preference shareholders are advised to refrain from selling or transferring their CCPS shares during this period. Any transaction could disrupt the conversion request with the Depositories, potentially causing delays or failure in the conversion process.
  
• 16th - 18th October 2024: Swiggy will initiate necessary corporate actions, including filings with the Ministry of Corporate Affairs and interactions with Depositories. These actions are essential to facilitate the smooth crediting of equity shares to the shareholders' Demat accounts.
  
• 26th or 28th October 2024: Follow-up actions will be undertaken with the Depositories to secure approval for the conversion. This step ensures that all regulatory and procedural requirements are met for the successful conversion of CCPS into equity shares.
  
• 29th October 2024: Shareholders will receive a final intimation once the equity shares have been successfully credited to their Demat accounts. This notification will confirm the completion of the conversion process.