JSA, AZB & Partners and Duane Morris & Selvam advised on Lalithaa Jewellery Mart’s INR 17,000 million (₹1700 crore) IPO.
Lalithaa Jewellery Mart Limited undertook an initial public offering of equity shares aggregating to INR 17,000 million, comprising a fresh issue of equity shares aggregating to INR 12,000 million and an offer for sale of INR 5,000 million. The shares were listed on BSE and NSE on August 24, 2026.
The IPO garnered strong investor interest, with a QIB subscription of approximately 145 times and an overall subscription of approximately 63 times.
JSA acted as Indian legal counsel to Lalithaa Jewellery Mart Limited and the Promoter Selling Shareholder in relation to its initial public offering.
The JSA team was led by Partner Arka Mookerjee, with Partners Pracheta Bhattacharya, Anshu Bansal and Kairav Parikh, Senior Associate Vatsla Varandani, and Associates Shreya Sharma, Ritu R Jaiswal, Johann Duckworth and Bernedict Rozario as team members.
AZB & Partners advised the Book Running Lead Managers, Anand Rathi Advisors Limited and Equirus Capital Limited.
The team comprised Varoon Chandra, Agnik Bhattacharyya, Rahul Aggarwal, Rajat Chadha, Damini Mathur, Shivani Singh, Khyati Basant, Asit Singh Baghel and Astha Bhattacharya.
Duane Morris & Selvam LLP acted as the special international legal counsel to the book running lead managers.
The team was led by Jamie Benson, the head of the U.S. capital markets, U.S. venture capital and India practices. The deal team also included Associate Faiz Jugari from the Singapore office.
