Laghu Shanti means a short peace-prayer in Jain practice. It is recited to invite universal peace, well-being, and harmony, and to dispel disturbances in mind and environment. The common form begins with a prayer to all beings and ends with Om Shanti, Shanti, Shanti.

Original text (commonly used form): सर्वे भवन्तु सुखिनः सर्वे सन्तु निरामयाः। सर्वे भद्राणि पश्यन्तु मा कश्चिद दुःख भाग्भवेत्॥ ओम् शान्तिः शान्तिः शान्तिः॥

Arth (meaning) in Jain understanding:

• May all beings be happy.
• May all be free from illness.
• May all behold auspiciousness.
• May none suffer.
• Om, Peace, Peace, Peace.

Notes:

• Laghu Shanti Path is a concise version of the broader Shanti Vidhan and is used for quick peace invocation in homes and temples.
• Variations exist across Digambar and Shwetambar communities, but the essential wish for universal peace remains the same.

You can read more here and see the text commonly used in practice here .