JSW One plans over ₹3,000-crore IPO, files papers
The proposed public issue was disclosed by JSW One in a filing late Thursday
Steel and construction materials marketplace JSW One Platforms has filed papers for an initial public offering (IPO) valued at up to ₹3,054 crore ($318.27 million), according to draft documents released on Thursday. The top shareholders, JSW Steel and JSW Cement, intend to sell shares amounting to approximately ₹934 crore, while Japanese conglomerate Mitsui & Co plans to offload shares valued at around 8.20 billion rupees.
JSW One also aims to issue about ₹1,300 crore in fresh shares, with the funds to be utilized for expanding its operations and developing its e-commerce platform. JSW One is an online marketplace that caters to small and medium-sized enterprises within India's construction and manufacturing sectors, operating as a subsidiary of JSW Group, a prominent conglomerate with significant influence in India's cement, logistics, and infrastructure industries.
The company reported a revenue of ₹5,743 crore for the fiscal year concluding March 2026, representing a substantial 45% increase compared to the previous year, while its losses were reduced by more than half, dropping to ₹106 crore. The IPO will be managed by JM Financial, Kotak Mahindra Capital, ICICI Securities, SBI Capital Markets, and PL Capital Markets.
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