JSW One Platforms Files ₹3,054-Crore IPO Papers With SEBI

JSW One Platforms, the B2B commerce business backed by the JSW Group and Japan's Mitsui & Co, has filed its draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to ₹3,054 crore.

The JSW One Platforms IPO will include a fresh issue of ₹1,300 crore and an offer for sale worth up to ₹1,754 crore by existing shareholders.

JSW Steel and JSW Cement, the company's promoters, will sell shares worth ₹811 crore and ₹123 crore, respectively. Mitsui & Co plans to offload shares worth ₹820 crore through the OFS, according to the draft red herring prospectus (DRHP) filed on 24 September.

JSW One Platforms may also raise up to ₹260 crore through a pre-IPO placement. If the placement goes ahead, the size of the fresh issue will be reduced by the amount raised.

JSW Steel And Mitsui Among Key Shareholders

JSW Steel and JSW Cement together held an 81.52% stake in JSW One Platforms when the DRHP was filed.

Mitsui & Co was the company's largest non-promoter shareholder, with a 7.01% stake. Principal Funds held 1.29%, while State Bank of India owned 1.25%.

JSW One Platforms operates a B2B marketplace that connects businesses with suppliers and service providers. Its network covers manufacturing and construction products, contract manufacturing and service centres, financing and logistics partners.

Usage Of IPO Proceeds

The company plans to use a large part of the IPO proceeds to support its subsidiaries and technology operations.

Around ₹500 crore from the fresh issue will go towards strengthening the capital base of JSW One Finance. The funds are intended to meet the subsidiary's future capital requirements as its business expands.

Another ₹125 crore has been earmarked for marketing and brand-building activities at JSW One Distribution.

JSW One Platforms also plans to spend ₹350 crore on technology and platform development. The remaining proceeds will be available for general corporate purposes.

JSW One Platforms Turns Profitable In June Quarter

JSW One Platforms reported a profit of ₹14.2 crore for the quarter ended June 2026, while revenue stood at ₹1,642.4 crore.

For FY26, however, the company reported a net loss of ₹106.4 crore. This was an improvement from the ₹217-crore loss recorded in the previous financial year.

Revenue increased 45% year-on-year to ₹5,743.4 crore in FY26 from ₹3,962.8 crore.

JM Financial, Kotak Mahindra Capital Company, ICICI Securities, SBI Capital Markets and PL Capital Markets have been appointed as merchant bankers for the JSW One Platforms IPO.

Also Read - NSE Rises To World’s Sixth-Largest Exchange With $47 Billion Market Capitalisation