JSW One IPO Filing
JSW One Platforms files draft papers for a 3,000 crore initial public offering.
Anonymous
JSW One Platforms, a marketplace serving small and midsize businesses in India’s construction and manufacturing sectors, filed draft papers on September 24 for an IPO that could raise up to 30.54 billion rupees, or about $318 million. The proposed offering includes roughly 13 billion rupees in new shares, with JSW Steel, JSW Cement and Mitsui & Co planning to sell existing shares. The company expects to use proceeds to invest in its subsidiaries and platform, strengthen technology, attract users, expand into new markets and support related businesses. The IPO remains subject to regulatory approvals and market conditions.
Key Points
1
JSW One Platforms reported revenue of 57.43 billion rupees for the year ended March 2026, up about 45% year over year, while its loss narrowed to 1.06 billion rupees.
2
The platform recorded gross merchandise value of about 18,500 crore rupees in FY26; business volumes rose roughly 50% year over year in the June quarter, when it posted an estimated net profit of 14 crore rupees.
3
Credit accounts for about 40% of JSW One’s gross merchandise value, with financing provided through both its own operations and lending partners.
4
JSW One acquired BuildNext earlier in 2026 and rebranded it as JSW One Homes, adding home design, construction-material sourcing, contractor management and project execution to its services.
5
The IPO is being managed by JM Financial, Kotak Mahindra Capital, ICICI Securities, SBI Capital Markets and PL Capital Markets.
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