JSW One Platforms Files IPO Papers: ₹3,054 Crore Issue
- 25th September 2026
- 11:00 AM
- 3 min read
Summary
JSW One Platforms has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a ₹3,054 crore initial public offering (IPO). The issue includes a ₹1,300 crore fresh issue and an offer for sale (OFS) of up to ₹1,754 crore by JSW Steel, JSW Cement and Mitsui & Co.JSW One Platforms, a business-to-business (B2B) commerce company promoted by the JSW Group and backed by Mitsui & Co, has filed a DRHP with SEBI to raise ₹3,054 crore through an IPO. The company filed the draft document on 24 September 2026.
What Is The JSW One Platforms IPO Structure?
The ₹3,054 crore issue combines new shares from the company and existing shares from current shareholders. The company receives money only from the fresh issue. OFS money goes to promoters JSW Steel and JSW Cement and investor Mitsui & Co.
| Component | Amount |
|---|---|
| Fresh issue | ₹1,300 crore |
| OFS by JSW Steel | ₹811 crore |
| OFS by JSW Cement | ₹123 crore |
| OFS by Mitsui & Co | ₹820 crore |
| Total issue size | ₹3,054 crore |
The company may also consider raising up to ₹260 crore through a pre-IPO placement, which is a sale of shares to select investors before the IPO. If it does, the fresh issue will reduce by the amount raised in that round.
JM Financial, Kotak Mahindra Capital Company, ICICI Securities, SBI Capital Markets and PL Capital Markets are the merchant bankers for the issue.
Who Owns JSW One Platforms?
Promoters held 81.52% of JSW One Platforms at the time of the DRHP filing. Mitsui & Co is the largest public shareholder with a 7.01% stake. Principal Funds follows with 1.29%, and State Bank of India holds 1.25%.
How Will JSW One Platforms Use The IPO Money?
The company plans to spend the net proceeds from the fresh issue on two subsidiaries, its technology and general corporate purposes.
- ₹500 crore to add to the capital base of subsidiary JSW One Finance, to meet future capital needs as its business grows.
- ₹350 crore for technology and platform development.
- ₹125 crore for marketing and brand-building by subsidiary JSW One Distribution.
- The remaining amount for general corporate purposes.
What Does JSW One Platforms Do?
JSW One Platforms runs a B2B commerce platform that connects business customers with supply partners. These partners include sellers of manufacturing and construction products, contract service centres, contract manufacturers, and financing and logistics partners.
How Has JSW One Platforms Performed Financially?
JSW One Platforms reported a profit of ₹14.2 crore for the quarter ended June 2026. For the financial year ended March 2026, its loss narrowed to ₹106.4 crore from ₹217 crore, while revenue rose 45%.
| Period | Revenue | Profit or loss |
|---|---|---|
| Quarter ended June 2026 | ₹1,642.4 crore | ₹14.2 crore profit |
| Year ended March 2026 | ₹5,743.4 crore | ₹106.4 crore loss |
| Previous financial year | ₹3,962.8 crore | ₹217 crore loss |
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