JSW One Platforms is planning to raise ₹650–700 crore in a private round and about $350–400 million through an IPO expected by the end of the financial year.
The company provides a full-stack B2B marketplace for MSMEs in manufacturing and construction, combining commerce, logistics and financing solutions.
Rising investor interest in India’s B2B digital economy is driving listing activity, with peers such as Moglix, OfBusiness, Infra.Market and Zetwerk also exploring IPOs.
JSW One Platforms Eyes $400 Mn IPO, Plans Pre-Listing Fundraise
JSW Group’s B2B marketplace explores private funding to benchmark valuation ahead of a planned public listing this financial year
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JSW One Platforms, the Sajjan Jindal-led group’s B2B digital marketplace, is preparing for an initial public offering (IPO) later this year and is also exploring a private funding round ahead of the listing, Mint reported citing sources.
The company is aiming to raise around ₹650–700 crore through a private funding round in the current quarter to establish a valuation benchmark ahead of the IPO, the report said.
Simaltaneously, it is targeting to raise about $350–400 million through the public issue and is expected to list by the end of the current financial year.
If the IPO proceeds as expected, JSW One Platforms would join other B2B commerce companies such as Moglix, OfBusiness, Infra.Market, and Zetwerk that are also exploring or preparing for public listings.
Investor interest in India’s B2B digital commerce segment has been rising steadily, with several reports highlighting the potential for significant growth as supply chains and procurement processes shift online.
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According to industry estimates, online-first B2B marketplaces could unlock a market opportunity of around $200 billion in India by 2030, driven by the digitisation of fragmented and largely unorganised supply networks.
JSW One Platforms entered the unicorn club last year after raising ₹340 crore in funding led by investors including Principal Asset Management and JSW Steel, reflecting a more than threefold increase in valuation from its previous funding round in April 2023.
The company later secured an additional ₹575 crore in October from investors including State Bank of India, Principal Asset Management, One-Up, International Conveyors Ltd., Scarlett Ventures, and JSW Steel.
The company provides an integrated platform for micro, small and medium enterprises (MSMEs) in the manufacturing and construction sectors, offering products such as steel, cement, and contract-manufactured goods alongside logistics and financing solutions through its NBFC arm.
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Its gross merchandise value stood at ₹12,567 crore in FY25, marking a 240% increase from the previous year. The company is targeting operational break-even by the end of FY26 as it expands distribution networks and strengthens digital procurement capabilities.