Trilegal is advising Shivalaya Construction and the selling shareholders on the initial public offering, comprising a fresh issue of up to INR 4,500 million and an offer for sale of up to 24,861,900 equity shares (face value INR 2 each) by the promoter selling shareholders and promoter group selling shareholders.
Shivalaya is an integrated infrastructure engineering, procurement, and construction player with a focus on roads, highways and bridges, having executed multiple projects, across 19 states and union territories in India.
The Capital Markets Team advising on the matter is led by Partner Abhinav Maker who is supported by Counsel Ajo Jomy and Associates Maniya Goyal, Jayant Saxena, Animan Sharma and Kaushik Parkhe.
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.
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.
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