Five law firms — Khaitan & Co, Verist Law, JSA Advocates and Solicitors, TT&A, and Linklaters — are acting as Anarock IPO legal advisors on one of the most closely watched real estate sector listings of 2026. Anarock Property Consultants filed its Draft Red Herring Prospectus (DRHP) on 30 September 2026 with SEBI for a proposed ₹1,000 crore initial public offering. The transaction brings together a rare five-firm advisory line-up spanning issuer counsel, promoter counsel, investor selling shareholder counsel, BRLM counsel, and international counsel.
Introduction
Anarock Property Consultants Limited has proposed an initial public offering of equity shares amounting to ₹1,000 crore, comprising a fresh issue aggregating to ₹550 crore and an offer for sale aggregating to ₹450 crore by certain shareholders of the company. Under the OFS, promoter selling shareholders Peter Properties Ltd and Khushi Trust, along with investors including various funds managed by 360 ONE, Om Sai Trust, and Colared Consultants and Traders LLP, will sell shares.
ICICI Securities, IIFL Capital Services, and 360 ONE WAM are the Book Running Lead Managers (BRLMs) to the issue, while KFin Technologies is the registrar to the offer. Anarock is a leading Indian real estate services company with diversified interests across the real estate lifecycle, deploying its proprietary technology platform to accelerate marketing and sales.
Deal Value
The issue includes a ₹550 crore fresh issue, while existing shareholders — including 360 ONE WAM — will offer shares worth up to ₹450 crore through an offer for sale (OFS), bringing the total proposed issue size to ₹1,000 crore. The company may also raise up to ₹110 crore through a pre-IPO placement; if completed, the fresh issue would be reduced by the amount raised through that placement.
Legal Teams Involved
Khaitan & Co — Advising Anarock Property Consultants
Khaitan & Co is advising Anarock on this IPO. Further details of the Khaitan & Co transaction team were not disclosed.
Verist Law — Advising the Promoter and Other Selling Shareholders
Verist Law is advising the promoter selling shareholders and the other selling shareholders. Further details of the Verist Law transaction team were not disclosed.
JSA Advocates and Solicitors — Advising the Investor Selling Shareholders
JSA Advocates and Solicitors is advising all the investor selling shareholders on this IPO. The transaction team is as follows:
- Madhurima Mukherjee Saha — Partner
- Shivali Singh — Partner
- Tisa Padhy — Associate
TT&A — Advising the Book Running Lead Managers
TT&A is advising ICICI Securities Limited, IIFL Capital Services Limited, and 360 ONE WAM Limited, the Book Running Lead Managers on this IPO. The transaction team is as follows:
- Abhinav Kumar — Partner
- Shubham Sancheti — Managing Associate
- Abhishek Iyer — Senior Associate
- Soham Vakil — Associate
- Akanksha Pillai — Associate
- Yash Bhandari — Associate
- Aditya Jain — Senior Associate (support)
- Keshav Yadav — Associate (support)
Linklaters — International Legal Counsel for the BRLMs
Linklaters is acting as the international legal counsel for the BRLMs. Further details of the Linklaters transaction team were not disclosed.
Significance and Impact
The Anarock IPO marks a significant moment for the Indian real estate advisory sector, representing the first major listed platform dedicated to real estate services and technology. Of the fresh issue proceeds, Anarock has earmarked ₹120 crore for AI augmentation and technology across its business lines, including ₹80 crore for its transaction advisory business, ₹25 crore for technology solutions through ACP, and ₹15 crore through its subsidiary Anacity.
A further ₹89.5 crore will go toward strengthening existing businesses and adding specialised services through talent augmentation, while ₹148 crore is earmarked for acquiring the remaining equity share capital — excluding the ESOP pool — of DSP Design Associates. Anarock operates across four areas of the real estate value chain and currently employs around 2,300 people across key Tier-1 and Tier-2 markets in India and the Middle East.
The five-firm advisory structure — spanning domestic issuer counsel, promoter counsel, investor shareholder counsel, BRLM counsel, and international counsel — reflects the multi-stakeholder complexity of a capital markets transaction of this scale. For ongoing tracking of deal-level legal mandates, see the Deal Meter.
The proposed Anarock ₹1,000 crore IPO, filed via DRHP with SEBI on 30 September 2026, represents a landmark transaction for the Indian real estate services industry. The five-firm legal line-up — Khaitan & Co, Verist Law, JSA Advocates and Solicitors, TT&A, and Linklaters — underscores both the structural complexity of the offering and the depth of legal expertise engaged across all shareholder classes. SEBI’s review of the DRHP and subsequent regulatory clearance will determine the timeline for the public issue.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
