JSA Guides Shivalaya Construction in Rs 450 Crore IPO Filing

Legal firm JSA is advising IIFL Capital Services Limited, Axis Capital Limited, and JM Financial Limited in connection with the proposed initial public offering (IPO) of Shivalaya Construction Limited. The IPO comprises a fresh issue of equity shares aggregating up to Rs450 crore and an offer for sale of up to 24,861,900 equity shares by certain promoters and members of the promoter group.

Shivalaya Construction filed its draft red herring prospectus (DRHP) dated September 5, 2025 with the Securities and Exchange Board of India (SEBI) on September 6, 2025. The IPO is expected to support the company’s growth plans and provide an exit route for existing stakeholders.

JSA’s advisory team on the transaction is led by Partner Arka Mookerjee, with support from the firm’s Equity Capital Markets practice. The team includes Partner Siddhartha Desai, Principal Associate Ananth Balaji, and Associates Vatsla Varandani, Aditya Shendye, Ayushi Pandit, Ishika Jain, Vaishnavi Kokkonda, and Johann Duckworth.

The IPO marks a key milestone for Shivalaya Construction, which has been active in infrastructure development across India. The legal advisory underscores JSA’s continued role in high-profile capital market transactions.