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.
About Duane Morris & Selvam LLP
Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City and Yangon, as well as an office in Shanghai. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.