JSA Advises on the Proposed IPO of Shivalaya Construction Limited

JSA is advising IIFL Capital Services Limited (formerly known as IIFL Securities Limited), Axis Capital Limited, and JM Financial Limited in connection in relation to the proposed initial public offering of equity shares (“IPO”) of Shivalaya Construction Limited.

The proposed IPO comprises of a fresh issue aggregating up to ₹4,500.00 million and an offer for sale of up to 24,861,900 equity shares by certain promoters and members of the promoter group.

Shivalaya Construction Limited filed its draft red herring prospectus dated September 5, 2025 with the Securities and Exchange Board of India (SEBI) on September 6, 2025.

The JSA team advising on this transaction was led by Partner Arka Mookerjee, with additional support from the Equity Capital Markets team including Partner Siddhartha Desai, Principal Associate Ananth Balaji, and Associates Vatsla Varandani, Aditya Shendye, Ayushi Pandit, Ishika Jain, Vaishnavi Kokkonda and Johann Duckworth.