The company intends to deploy the money raised through the IPO towards strengthening its technology systems, bringing more users onto its platform and entering new markets, as per reports. It also plans to expand its range of private-label products and increase the scale of its financing business.
JSW One was valued at around $1 billion in May 2025 after raising ₹340 crore. It secured a further ₹575 crore in October from State Bank of India, Principal Asset Management and JSW Steel.
The company’s gross merchandise value, or the total value of goods sold through its platform, was around ₹18,500 crore in FY26. Revenue for the year was estimated at ₹5,300-5,400 crore, while the company made a net profit of ₹90 crore.
Growth remained strong in the June quarter, with business volumes rising about 50% from the year-earlier period. EBITDA was around ₹22 crore and net profit stood at approximately ₹14 crore.
Financing becomes a bigger part of the business
Credit currently accounts for about 40% of JSW One’s GMV. The company provides financing through its own financing operations as well as through lending partners.
Transactions with companies belonging to the wider JSW Group also make up a sizeable part of the platform’s business.
JSW One operates across the sourcing and sale of industrial and construction materials and has expanded into related services including financing, logistics and material processing.
BuildNext acquisition expands home services
Earlier this year, JSW One acquired BuildNext and rebranded it as JSW One Homes. The wholly owned subsidiary brings together home design, sourcing of construction materials, contractor management and execution of projects.
The IPO plan comes as a number of B2B commerce and manufacturing companies look to access public markets.
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First Published: Sept 25, 2026 12:21 AM IST