JSW One Platforms, a prominent B2B commerce entity promoted by the JSW Group and supported by Mitsui, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company intends to raise ₹3,054 crore through an Initial Public Offering (IPO), with the filing made on September 24.
The proposed IPO structure includes a fresh issue of shares totaling ₹1,300 crore, alongside an offer-for-sale (OFS) component amounting to ₹1,754 crore. Key existing shareholders participating in the OFS include JSW Steel, selling shares worth ₹811 crore, JSW Cement with ₹123 crore, and investor Mitsui & Co offloading shares valued at ₹820 crore.
Before the main IPO, JSW One Platforms may also conduct a pre-IPO placement to raise up to ₹260 crore. Should this placement occur, the size of the fresh issue in the IPO will be correspondingly reduced.
Use of Funds and Shareholding Structure
The net proceeds from the fresh issue are earmarked for several strategic initiatives. JSW One Distribution, a subsidiary, will allocate ₹125 crore towards marketing and brand-building efforts. An additional ₹500 crore is designated to bolster the capital base of JSW One Finance, preparing it for future capital requirements driven by business expansion. Furthermore, ₹350 crore will be invested in technology and platform development, with the remaining funds allocated for general corporate purposes.
At the time of the DRHP filing, promoters held a substantial 81.52% stake in JSW One Platforms. Mitsui & Co stood as the largest public shareholder with a 7.01% stake, followed by Principal Funds at 1.29% and the State Bank of India holding 1.25%.
Financial Performance
For the quarter ending June 2026, JSW One Platforms reported a profit of ₹14.2 crore on a revenue of ₹1,642.4 crore. The financial year concluded March 2026 saw the company narrow its losses to ₹106.4 crore, a significant improvement from a loss of ₹217 crore in the preceding fiscal year. During the same period, revenue experienced a robust 45% increase, climbing to ₹5,743.4 crore from ₹3,962.8 crore.
The IPO process is being managed by a consortium of merchant bankers, including JM Financial, Kotak Mahindra Capital Company, ICICI Securities, SBI Capital Markets, and PL Capital Markets.