Trilegal advised Shivalaya Construction on its proposed initial public offering
The leading Indian law firm, Trilegal is advising Shivalaya Construction Limited and the selling shareholders on its proposed initial public offering (IPO). Shivalaya is an integrated infrastructure engineering, procurement, and construction (EPC) player with a focus on roads, highways, and bridges, having executed 41 projects as of July 31, 2025, across 19 states and union territories in India.
With more than 25 years of experience in the construction, development, and maintenance of roads and highways, Shivalaya has executed specialized structures such as elevated roads, flyovers, bridges, and railway overbridges. As of July 31, 2025, the company has constructed over 2,700 lane kms of roads and highways, with project sizes ranging from 14 lane kms to 210 lane kms, and has more than 1,500 lane kms of ongoing projects. Its 14 ongoing projects include 5 EPC projects and 9 HAM projects across states and union territories including Jammu and Kashmir, Haryana, Uttar Pradesh, Maharashtra, Kerala, Karnataka, Jharkhand, and Meghalaya.
The proposed IPO of equity shares comprises 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.
The Trilegal Capital Markets Team advising on the matter is led by Abhinav Maker (Partner), with support from Ajo Jomy (Counsel), and Maniya Goyal (Associate), Jayant Saxena (Associate), Animan Sharma (Associate), and Kaushik Parkhe (Associate).
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