SINGAPORE, 15 September 2026 — Duane Morris & Selvam LLP acted as the special international legal counsel to Anand Rathi Advisors Limited and Equirus Capital Limited in their capacity as the book running lead managers on recent sale of INR 17,000 million (US$ 178 million) of shares in Lalithaa Jewellery Mart Limited in an IPO in India and concurrent private placements outside India. The shares were listed on BSE and NSE on August 24, 2026.
The IPO garnered very strong interest from investors, with a QIB subscription of approximately 145 times and an overall subscription of approximately 63 times.
Duane Morris & Selvam’s 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 Faiz Jugari, associate in the Singapore office.
JSA acted as Indian legal counsel to Lalithaa Jewellery Mart Limited and Promoter Selling Shareholder and AZB & Partners acted as Indian legal counsel to the Book Running Lead Managers.